Sure we will if we keep in mind that as an investment property the
calculation assumes that all mortgage costs are paid for by a renter,
so all interest paid is not deducted from the value but all principal
is added in.

For instance, the $200k home, appreciating at 5% we will have gained
$10,000 in value and the principal paid on the loan will have added in
roughly $2k the first year. But although the interest is about $11.5k
it is not subtracted from the equity of our holdings since it was not
paid by us.


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JimDandy
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