Just the same though, people love them and pay those astronomical fees to live there.

4) If you are financing the second, third, fourth etc..properties, aren't the DTI numbers astronomical?

Especially since I live in the most expensive place in the country with astronomical taxes.

As I started to get deeper into my estimates and as I simulated 10, 20, and 30 years of this growth, the numbers grew to be astronomical..

I've made a decent living over my brief investing career in Austin, but I've warned many out of state investors to the same thing that @Jay Hinrichs mentioned, which is that we have no state income tax here, which means that our property taxes are astronomical to make up for it.If you live here, it's immaterial, but if you live in a state with income tax, you're essentially getting taxed twice (and yes, I'm aware of (some) of the complexities of cross-state earnings and how they're taxed).

The 15 year loan may have a lower interest rate, but it wouldn't be an astronomical difference.

The number of foreclosures in the neighborhood is an astronomical 10 per 10k.  

My condo fees are astronomically high each month ($569) due to the community not funding the reserves and being a neglected 36 year old community with many needed repairs.

Housing is tight in this community with purchase prices being reasonable, but rent is astronomical.

If you're well capitalized and have significant reserves I'd prefer to lock in long term debt with today's dollars and pay it off with future dollars that are worth less.The amount of capital gains as well as depreciation recapture that many investors would have to pay if they sold everything into a cash position is astronomical and should be a part of the decision.