If you're going to think of leverage like that, leverage works both ways on expenses though. 150x leverage means 150x cashflow burden from taxation (> 100%!) a

If you're going to think of leverage like that, leverage works both ways on expenses though. 150x leverage means 150x cashflow burden from taxation (> 100%!) and also maintenance costs of the property. See https://news.ycombinator.com/item?id=35044028 https://news.ycombinator.com/item?id=35044028 where I laid out how a real estate purchase is really a mix of multiple investments packaged into one sale.