I myself don't have a lot of appetite for risk which is why I started investing in real estate.

This is why househacking is so powerful when youre getting started - for primary residence loans, 3-5% down is very normal.

New landlord here and I've been forced to start my first eviction.

I have started to do some door knocking, and I see what you are saying!  

Quote from @Jackson Harris: Hey Kai'ler for our STR portfolio and what our investors do is start getting it listed on Facebook/Zillow rental/Furnish Finder/etc now as a LTR for that time period you're talking about.

It's time to start the process as everyone else mentioned above.

I'd also start the marketing process 30-45 days before current tenants move out in most cases - it just seems easier to re-let a place that is currenlty occupied than one that's been sitting empty for a while for some reason. 

For your mortgage, a 30-year loan will give you lower monthly payments, which could be ideal while starting out.

I'm brand new, just getting started, so trying to get everything in order.

My son currently lives in the townhouse b/c he is going to school and works in the area.Since he is young and starting out in life, I would like for him to only cover the basic costs (taxes, HOA, utilities) just enough for me to break even (I believe that will put him slightly little lower than market rent rates).