I'm laughing at the "FREE RENT" argument.  Typically that's what the financially illiterate argue.  With this scenario, you may end up with around $700k of asset and be rent free.  Alternatively, you can end up with a $2 million diversify portfolio of stocks that generates enough enough to pay rent.  Those who are financially illiterate talk about generating equity in their primary residence.  Those who are financially savvy talk about generating higher net worth.