Sounds like a good plan to me.Although this is not a comprehensive list, it will get you started.

I work full time in electrical construction with a total household income of about $85,000/yr.

Our comprehensive plan determines the density in our county.

Credit is fantastic, and annual household income is about $200k with 0 current debt.

Since it sounds like you're just getting started, it is worth noting that there are a lot of great tools out there you can use to screen, but I would suggest a platform that helps with not only listing the property (publishing it to 10+ other major listing sites) but also comprehensive tenant screening which includes a nationwide criminal background check, credit check, eviction history check, and requires references for prior tenancy.

Great comprehensive response Dave. 

That's why there are a ton of resources out there which can help you to turn away from PMs and towards being able to manage the rental properties yourself, with a certain level of automation brought to the process (ie. listing the property and publishing it to 10+ other major listing sites, comprehensive tenant screening applications which includes a nationwide criminal background check, credit check, eviction history check, and requires references for prior tenancy;  digital leases, payments/online rent collection, and automated maintenance tracking).

Residential real estate that doesn't consume more than 1/3 of the median household income in well-located cities with diverse economies and generally temperate climates will always be in demand. 

We require combined gross household income of at least 3x the rent (including water/sewer).

Also, I’m very conservative and hate to have these loans out in my name and put additional risk on my family and my personal household.