After our rehab of the property and the quick upward trend in the housing market in the area, we estimate the home to be conservatively appraised at $165k if we were to have it reappraised.We're excited by the success of the Airbnb property but want to give a go at long term renting so as to not put all of our eggs in one basket and start to diversify.

@Mark Gallagher  Ryan is in France enjoying the fruits of his labor  :) @Ryan DosseyI think a HUGE part of this as well is area..

Having balance in your finances rather than 'all your eggs in one basket' would be the prudent thing to do.

I am so looking forward to building a fruitful relationship with a good company.  

It also allows you better money management since can you spread your cash over more deals and have eggs in more baskets.

(And chocolate baskets. :). )

If the world goes to hell in a hand basket, I want my primary residence free and clear and my rental properties carrying any debt I choose to carry on them, paid for by the residents that are living in them.  

-Warren Buffet.If on the other hand you know nothing about REI and have no interest in learning or actively managing your portfolio, then that is a passive investment ... in that case you should buy a basket of REITs and/or a S&P500 index fund and diversify away.

I'm finally at the point where I am ready to start taking the first step in a hopefully very long and fruitful career.

Hope your beginning experience is more fruitful than mine, though mine forced me to be the best buyer I can be today on my own.