Yeah I love it. I would like to "buy" a multi-million dollar mansion in the Bahamas with big bank money, but have the bank only encumber the property itself, and I get to live in it and pay service staff for my luxury, maybe the odd AirBnB letting to maintain the occasional pretense of repayment, up until the time 'it' can't sustain 'itself' and I walk away debt-free.
But apparently I'm not a rich person so that kind of accounting doesn't apply to me.
True, but the difference is all about what happens when you can't pay the 10% interest or get into significant negative equity. If you can just walk away, then you have "rich person accounting."
Fyi, if you live in the US, you might actually have access to that kind of financing. Non-recourse loans for retail clients do exist in many states in the US, including California and Texas, and they're the default for all government-backed mortgages in the US [0]. But globablly speaking, they're the exception, yes. I don't know what the situation in the Bahamas is like.
But apparently I'm not a rich person so that kind of accounting doesn't apply to me.