[freakshow]

I certainly fall into the stupid category.. if only I could also fall into the make-as-much-as-smart people category.

That said, Chuck, I very much appreciate your lengthy detailed replys!
Now, excuse my ignorance, but here's how the hamster in my head spins the wheel:

You have a $500,000 place with a mortgage of 2000 (1800 + fees), but can rent it out for 1400. This means you have a net loss each month of 600 bucks; however, you also have someone else putting 1400 into your mortgage. If you don't plan to sell the place, and, in 5 years, it's still only worth 500,000, although you put in 36000 (600*12*5), someone else has also helped you put in 84000(1400*12*5). Wouldn't that have been considered a good move?
I know I guessed at a lot of factors, but overall, it seems that unless the market drops by a lot, you still have someone (the renter) who is essentially giving you a reasonable amount of money.