I would recommend targeting 30 day minimum rentals (Most associations are 90+), allowing 12+ rentals per year (most allow 1-3), and no in-person screening for tenants required.

Personally, I've been in this niche since 2007.

The terms and costs will depend on the property, your personal situation, the location, etc.

I am not sure what type of real estate investing you're considering, but it sounds like, with your family and busy job, you won't have a lot of time to be hands-on or personally involved. 

@Dustin Horner you should be contracting maintenance work and creating a preferred list of vendors as @Phillip Austin has recommended.The first person you hire to help you should be to handle what you LEAST like to do yourself or has the greatest time savings for you!

I don't have personal experience with it, but when the app was first developed, I contacted the developer and put the app through a fairly robust test usage to see if it's something I would want to recommend to my clients (I'm a CPA).I think the app is great for its intended purpose and I do recommend it to my clients now (and have for about 18 months now). 

I've never done one personally but my understanding is it involves the home being put into a trust, with the sub2 purchaser buying the trust from you.

Quote from @Mathew Chacko: Quote from @Na Person:  I too was a little skeptical of sending a large cash payment to an unlicensed entity (1031 facilitators do not need a license). 

I know a couple of the Realtors on the team at Suncoast Property Management, Acquisitions & New Construction Manager, Gretchen Kornutik, REALTOR® - Good person.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.