It would end up being mathematically identical, assuming everyone is doing their math correctly. 

Using leverage is just applying mathematical principles to the real world.

Jeff Beard maybe I cannot convince you but mathematically, in recent times, the appreciating markets (San Fran, Los Angeles, OC, San Diego) have out performed virtually every cash flow area.  

Some landlords use a mathematical equation, called RUBS, to bill based on the size of the unit or other factors, this is just as inaccurate and down right illegal in a lot of places. 

It make make left-coast sense in California, but mathematically - when you discount your future cash flows - it's a bad deal (as a business).   

It seems to mathematically make sense that I payoff the loan first because of the high interest rate but if someone has a strong argument for acquiring my first property then i'm all ears!

You cannot simply use a mathematical formula as while one is simple, they will have to work with the engineers (civil, MEP) to coordinate exterior, entrances, grades etc.

With that objective you can mathematically work your way back to what you consider a "reasonable offer"  i.e. how much Net income (Rent minus expenses) will the property produce versus how much cash you put in to the deal.  

Is this worth pursuing further, on paper- it does make mathematical sense.

It’s a mathematical formula based on number of people, square footage, etc.