To answer your earlier question about insurance, I've also found my rental policies are cheaper than for my personal residence.

I could do a "ok" rehab for cheaper that might still get me the same price.

For the most part, it is managed BETTER and CHEAPER by myself, or someone I contract / hire to help.

The area is a very nice heritage neighborhood with 800k mansions a stone's throw away, though the immediate area is cheaper, 200-300k and also has some mansions converted to apartments.

You can always find someone to do it cheaper but you won't find out how good they were until the install is complete.

So the cost of unlicensed contractors for anything from painting to plumbing is much cheaper than licensed and bonded contractors.

I tell you, my husband(law school loans) live cheaper now than we did before I became an Attending.

A cheaper dollar compared to other currencies increases the demand for U.S products as they become relatively less expensive compared to other countries.

If inflation does kick up, which is entirely possible given the huge US deficits (inflation makes those debts cheaper to repay), then owning some property gives you protection.Buying with leverage is a two-edged sword.

As Tim pointed out, if inflation in rents keeps pace with inflation in expenses, the net advantage is that property you leverage today is being paid off with tomorrow's cheaper dollars.