You have limited appreciation and often the taxes go up later and shortfall the cash flow expectation.Rent-ready for you would also mean live-ready, but by having two residences and two short-term options when you are not there, you are creating a lot of upkeep and maintenance on both that will be very hard to manage.

But you also have to subtract utilities, turn costs, starting items (kitchen and cleaning items you give them), and furnishing upkeep/maintenance.

Plus, with fewer building structures to upkeep compared to apartment complexes, your repair expenses remain relatively low.Mobile home parks also have the potential for high returns.

This might lighten the weight of the tree toward your property;  so this might help or not. 

EDIT - 700lb weight limit.

I just have 5 units and am doing other work to help pay the bills in addition to doing all the property management myself (upkeep, repairs, cleaning in between tenants, mowing, finding & interviewing tenants etc).   

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California could cost you a minimum tax of $800 every year.

Once you move up to Multi-unit units you now add provisions upkeep of all common/shared spaces.   

In addition to joining the seller to the buyer at the hip for several years/decades when the seller wants a clean break, the properly-discounted, risk-weighted, money to be received by the seller is less than the immediate sale price.

He ended up keeping it as a rental, but what tipped the scales for him was the rent appreciation potential in his specific neighborhood and the tax benefits of holding onto a property with a great interest rate.