Based on the comments received thus far I think it's prob make the most sense to hold on to the note.

Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

Old post but I figure I would comment here... my Company, Maven Cost Segregation has done studies on projects like this.

Then, if you like some of the comments from a user, you can connect with them directly and perhaps do a 1:1 discussion and potentially discuss what you want to do in the future.

Second the comment about reaching out to local agents around you

See my DSCR comment a above. 

I always thought a bedroom has to have a window (which I guess is a second egress) or it cannot be listed as a bedroom but you can list in the comments on the mls as an additional bedroom NTC (not to code).

As far as some other comments about like kind etc, you can sell this SFR and then buy a warehouse, or vacant land or even exchange into a DST there are many other assets that are considered 'like kind'.

@Jorge Newbery Can you comment on this?

so after reading all the comments it just sounds like make sure i have lenders that's okay with rural areas