You are also devaluing your property by not having rent at market in the event you wish to sell.

Assume a mere 2% inflation, your debt devalues at that same rate.

This would devalue the property and I feel is a serious risk to consider, especially in areas where cap rates have gone down significantly in recent years.

You earn $200,000 * (4%-3%) = $2,000 annually in appreciation by locking in the price of your home today against the devaluation of the US dollar. 

Something to keep in mind is that newer homes will be devalued by tenants quicker than a older home that has been fully broken in by tenants.

It's because the Empire grew too big and the Greedy Politicians needed more Money to keep Spending, so, they raised Taxes and Devalued their Currency by adding base metals to their Gold and Silver Coins until the population "woke" up to see that their Money was Worthless.  

I find that works great with people as I am not devaluing their HOME or telling them that's all their nicest home they have owned is worth.

No abuse, no trying to devalue a person,etc.

It will just devalue the property.  

More passive, move out of California, diversify geographically more, etc.Good morning Henry and thanks for responding.Here are my answers and for sake of efficiency, I'll try to keep them short unless further elaboration is helpful.1) The right SS option is one that will continue performing at the inflation/CPI adjusted income level that I buy it at and is not at risk of devaluing due to area specific real estate prices (ie: I want to avoid areas/operations with falling demand/population).