So if your using margin at let's say 12% interest rate, to do the mentioned S&P gaining at 8% or heck let's say 10%.... congratulations you just found a neat way to go a couple hundred thousand into debt.

Not to mention the cost. 

@Samuel Kim: As I mentioned in my first post, speak with a qualified professional.

As mentioned above I would try to work out a partnership.  

It’s more the actual “how-to” or structuring it into the process I’m in, as I mentioned. 

However, as Zane mentioned in his response, another option is to consult with a lawyer who specializes in appealing property taxes.

Like others have mentioned, there’s appreciation, depreciation, leverage, and tax benefits that produce a compelling risk adjusted return. 

You didn't mention having other money available.

The quiet enjoyment mention is very relevant as everyone is entitled to that.

You mentioned about the difference between the purchase interest rate and the refinance rate.