I agree with Patricia. In fact, your feeling overwhelmed is because you don't know how to solve the issues that concern you YET. Don't stop at 1 book. I find a lot of books and articles give the perfect scenario or the absolute horrific situation to get eyeballs.
You will not have to perform at a level 10 consistently (10 meaning demanding). Some things are more important than others--so those are where you invest time.
For the reasons other have said, do your best to keep the rental. You need this property because of the tax code --its one of the categories where a taxpayer can meaningful reduce tax liability. Stocks have their place in your asset portfolio but the available tax deductions are much more limited. That is why the wealthy HAVE to invest in real estate in shape or form.
Stocks don't give you this.
The tax code's most beneficial deductions are geared for taxpayers who create jobs (owning a business) or who house others (rental properties).
Consider:
1. investing time in finding a local landlord mentor--someone whose been doing it for years. Take them out for coffee or lunch that you pay for. Find someone where there is a personal connection and at some point your relationship now or later can benefit the mentor. This person will take calls from you and, if needed, willing to meet you at the property.
2. family sport
This asset benefits everyone. Starting with your wife and possibly your kids depending on age (for example, they can help clean between tenants, this starts their education [Check with your accountant because you may be able to pay your kids and take a deduction].- -
While you will do the lion share, can you take advantage of your wife's talents and availability? For example, if she can't visit the property, is she good at record keeping (so everything is organized at tax time) or finding vendors, comparing product prices, finding free or low cost items on Facebook marketplace to improve the rental)
3. emergency fund. You say you will clear $1200-$1,300 a month. Does that factor in both the mortgage, taxes and maintenance?
So you can sleep at night, consider having at least 2-4 month mortgage payments, taxes & insurance set aside (in the event you unexpectedly have difficultly in the future finding the right tenant.)
3. MOST IMPORTANT - this requires level 10 effort. master the art of finding great tenants. Do not cut corners. Full interviews, full background check, do they keep a messy car, call their references---after you do that then trust your gut. Only let in A+ people--no matter what.
4. whatever task you can't handle hire someone. Remember, worse case, you can hire a full management company.
Please keep us posted.
Best,
Paula
