Newbies create a lot of different issues, however.You are probably not going to be able to use Fannie Mae as a contingency.

-While rent would be more expensive month by month, the idea of being able to take my equity out of my home and also being able to reduce annual repair costs, property taxes, etc. does seem appealing to me. 

Beware of Fraud and Scams in the Lending Industry: A Guide to Protecting YourselfThe lending industry, unfortunately, can be rife with fraud and scams.

My vision is to keep it a while (it’s paid off) and use the cashflow to help with my kids college.  

Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

Curious to know what you would suggest for durability and longevity for a long term rental.

How is it performing compared to the proforma?

And no I’m not talking about the “burbs.”It is just something that I have found that has helped make my properties easy to rent - and I thought I would share.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.You need to get a firm grasp on two things: the ways to make money with real estate, and how to find deals that match your goals.P.S.

Pretty easy to make 2% or more when you're spending that kind of money.