On top of the points above, a 30 year loan is a hedge against inflation.

I like the perspective of @jason hartman who espouses the idea of using debt as a hedge against inflation - especially in the midst of the potentially inflationary new president (personal feelings aside).  

@Chris Galvez I think this would be a factor of inflation as most lending companies cost to do business have increased as a whole.

For all intents and purposes (there is a slight allowance for inflation, capped at 2% even if you experience 10% appreciation in a given year), the property taxes are just as fixed as the mortgage, so they belong on the right hand side of the formula. 

Real Estate is physical and the stock market is virtual so I have dramatically shifted my "retirement allocation" over to both Crowdstreet and RealCrowd and away from the currently over inflated/hyped stock market.

Does straight-line depreciation increase each year because of inflation, ARV, or annual property appreciation, switching tax brackets, etc?

Moreover, inflation and appreciation are working in your favor.

Don't use your student loans to inflate your lifestyle...Continue to live like a college student even after you graduate - have roommates, cook your own meals, buy used reliable stuff only when you really need it.

Rent will increase with inflation, but his payment stays the same.

That being said I think the market's inflated right now for buying to hold.