Someone else commented on the tax issue already.

I live in highly regulated social democratic Vienna, Austria. I own multiple rental properties where it is not possible to make a lot on average properties because there is so much competition from the city with quality, subsidized housing.

My mom lives in Houston in the same house for over 40 years. It has barely appreciated in that time for a multitude of reasons.

I cover my mortgage and upkeep on my flats plus a bit until they are paid off. Then they are a great passive income stream. Yes, there were times when I lost money, and times when there were no repairs for a few years and I did pretty well. But most all the time someone else was paying MY mortgage.

My mom is long retired. Mom and Dad (RIP) paid off their mortgage decades ago. If they had been renting, they'd be paying. Actually, they'd have paid for two mortgages by this time.

How greedy are you? Building equity is a great goal in and of itself.