There are intangible things in this world that equate to tangible dollars sometimes.

However, I don't think that experienced agents that provide value to their customers through their network and experience will ever be truly removed from the equation.

More importantly, putting aside climate change considerations, I don't see Miami not being a vacation and second home destination within 20 years for a simple reason: you can't get closer to the equator within the contiguous United States. 

So location isn't really an issue.When construction enters into the equation it becomes a whole different story. 

@Ben McMahon  You are also not taking into consideration the time value of money at all in this equation. 

If the NOI is $53,997And total cash invested was 181000 (this adjusts the closing cost to $10k, lets say I can get 3.75, I am trying to get the math right in this equation).I am seeing the Cash on Cash ROI as 29.8%.  

It does, but there's another reason 30 years are more appealing too... if you actually calculate inflation into the equation, inflation is going to out-do the difference in mortgage interest plus the principal, likely by a big margin.

But for $4k I can buy a point which equates to $100 lower in mortgage payments per month.

We went as far as getting the amortization equation and manually plug in the numbers,In any case their response is:You are calculating payment using a 365 calculation.

There's "financial peace of mind" that too many investors fail to factor into the equation, or they just ignore it and cross their fingers.