"In addition, I save roughly $8k a year on housing expenses – taxes, utilities, insurance, maintenance, etc." I'm no accountant, but the lack of an expense isn

"In addition, I save roughly $8k a year on housing expenses – taxes, utilities, insurance, maintenance, etc." I'm no accountant, but the lack of an expense isn't the same as cash flow. If the investment is paying 31.5k/year, that's all you have. I don't magically earn $1mm a year because I don't own a timeshare in a Gulfstream jet. Also, is this your plan once you hit advanced age? You want to be 75 years old, possibly with limited mobility, and be told your rental is expiring and you need to move? I suppose you could buy your old house back but real estate appreciation means it's now going to cost you $600,000.