New landlord, any tips?

[Gabe G.]

Just joined the forum. I currently have one rental property. 2 bedroom/1 bath in Indiana. Rent for 850 a month, brings in about 400 dollars a month in cash flow. I just bought a second property, 3 bedroom/2 bath. on a different side of town. I am hoping to rent this one for about 1050 a month, for about 500 dollars in cash flow a month. I put 25 percent down and get 30 yr mortgages. Property insurance is between 800-900 a year. I try to buy houses I would actually want to live in, in decent neighborhoods that are close to the major interstates. Any tips for the beginner? Anything you see wrong with the above? Biggest problem so far has been getting financing for non owner occupied properties.

Any help or comments are appreciated

Thank you