Doing some math on our rental property. When calculating the profit/loss, I've only included the interest on the loan, not the principal. That, along with all the other expenses (manager, HOW, property taxes, maintenance, etc.) will be subtracted from the income.
Do you do anything with your numbers to consider the principal you are paying down? That's not really an expense since it's essentially buying equity each month, but it feels wrong to ignore it entirely. (Opportunity cost, maybe?)
Initially, we kept it for reasons other than just making money each month, so the only question was whether we could afford it, not whether it was profitable. That has changed and we are trying to decide if we want to try to keep it now that the other factors are no longer really in play.