I owned 2 planes while in the AF and leased them back to a flight school. I can sum up the experience in 2 words...never again.
It is far cheaper to rent from an individual owner or your local FBO than owning outright. The outflow of money with ownership never ends. I'll admit, my eyes weren't fully open when I bought my first plane. The excitement of being an owner blinded me to some of the pitfalls. I was smarter about it when I bought the second one and that plane made money for me. However, that profit had to cover the losses I suffered with the first one.
With renting, you are only paying for actual use. When you're an owner, you are paying all the time. The loan, insurance, mx, FBO fees. You never realize how often things break on a small plane until you own one. Rental pilots don't give a shit about your plane either. They manhandle your instruments, spill Coke on the seats, and leave their McDonald's leftovers on the floor. Are they good pilots? Can they make a smooth landing? Maybe. But I believe they all performed carrier quals with mine.
I fully understand the love of flying and the desire to own your own plane. Isn't that every pilot's dream? But the reality is it's better to just toss the keys back to the FBO when you're done flying and let them take care of all the headaches.