Our only debts are a 2.875% mortgage with a balance of $124k only paying $897/month on an appraised value of $325k, daily driver car of $370/month, and use a credit card for monthly expenses, but pay the balance off with every pay check.

Along with that you purchased at a decent price, cheap rates so your mortgage should not be expensive.

As an example, we joined an expensive, but exclusive private networking group 12 years ago.  

Additionally, don’t overlook the opportunity cost of pulling money from your 401k—those funds could have been compounding in the market.I’d also suggest stress testing your ROI by running scenarios with higher expenses or lower rents to see how resilient the investment is.

Well worth the money, plus you will have already factored that expense in to your cash-on-cash requirements to justify a purchase decision)4. 

I prefer an assignment @William Causey as it keeps me off the chain of title and any issue(s) that go with being in the chain, as well as any additional expenses related to a doublel close.

Remember, turnover is one of your most expensive costs, so try to eliminate downtime and repair costs by doing it right the first time.What are your tricks when it comes to renovating or maintaining rental property bathrooms?

We plan to turn our current house hack into a long term rental. We just discovered a crack in the concrete slab foundation that is a borderline major problem:- It is a vertical crack about 1/8 inch wide that is at lea...

In a nutshell, IL (where I live) too expensive of a market, but WI, MI, OH etc seems like you’d get more bang for your buck. also,  you can look at a City’s  consolidation plan and what their plans are for development to get a good forecasting of housing booms.

Make a spreadsheet with current income and expenses and then figure out how long until rent surpasses expenses.