is there any situation where buying a property outright and then leasing
 

is better than mortgaging and doing the same thing? your thoughts?

:glugglug

hmm

cap rate versus interest rate on the mortgage. If the cap is lower then the interest rate then you will get reverse leverage with a mortage. High end properties do this sometimes.

I have seen it in places where properties sell for a million or more and you can rent them for very little.

Seconday thought: Put your money into better postioned normal real estate and skip it.