You capture the paydown, appreciation, and low payment.

The owner occupant rate is super low compared to many states but as a rental it goes up alot.  

and even then the return will be fairly low based on the risk you're taking on. 

I had to redo a bathroom last year in a 2/1 in an occupied duplex I own and I spent $6,004 in labor and materials (10% off at HD/Lowes as a veteran, just didn’t do flooring and left the old vanity, doesn’t include the damage the leak did in the lower unit). 

An antique persian rug made of wool is vastly superior to a nylon one from Lowe's.  

Biggest lesson would be to have refinanced when interest rates were low and locked in a fixed rate for longer terms without a balloon payment!

The IRS requires a reasonable salary, so setting it too low could lead to reclassification and penalties.

FINANCIALS:We will be selling our farm for approximately $3.25 million (this is 50/50, could be as low as $3MM and as high as $3.5MM) and we have $2 million invested in the property (house, barn, 46 acres, million $ view). 

We also have relatively low expenses (personal expenses, mortgage/escrow on other rental property, and escrow on current property) that are around ~$120k/year.

Fees are really low too.