Buying a home to live in and rent out.

[John Thompson]

Good morning everyone,

I am a high school teacher looking to get his feet wet in the real estate world. I have been studying for a year, and am finally ready to make my first Purchase on a home. I am looking to live in the home, while making minor improvements while living there. After sometime, I am looking to move again, and convert the home into a rental property. 

I understand that I have to crunch the numbers to make sure they work for when I rent out the property (most homes in my area rent for around 550-700 excluding electric and gas) . I wanted to ask if there were any tips that anyone could give me.  I am a little nervous, but I have a great realtor working with me, and  I have been reading everything that  I can on picking a home, and negotiating.

Thanks!