The trip of a thousand miles begins with the first step.Since you appear very new I want to encourage you to read the Learn section above, it is loaded with great info.

Thanks everyone for all the great insight & encouragement.

I found it interesting.How to Encourage Private Flood Insurance; Why Delaying Biggert-Waters Is Not the Answer

I am surprised that people admit or encourage such activities with such open disregard for ethical conduct.

Since you mentioned the expected cash flow of your house, I'd encourage you to look into various perspectives regarding the 50% rule.

Dan Dietz Dan,Thanks for the encouragement.

It is to protect your heat exchanger and evaporator coil.

Hey Jonathan, with your encouraging words and kind smile, I can feel my confidence level on the rise.

Thank you @Shawn Holsapple and @Mike D'Arrigo for the links, encouragement and contact suggestions for financing.

We did this so that if there is an accident or something happens at our rental, our liability is limited. ...I encourage you to seek out a competent attorney because if you and/or your wife manage that property, you don't have the protection you think you have and you need to make sure you carry adequate liability insurance.