I am just out side of Elkhorn, WI and selling our property the is 5 blocks from the lake. If sold for the amount I want I will have 30k to 40k at the end. Love to keep relator out of it, but may need realtor to find a...

Its a growing market, and a great place to invest for flips and rentals.  

When evaluating markets for rental properties, there are a lot of factors to consider: population growth, employment rates, rent to price ratio/GRM/Cap Rate, rent trends, vacancy rates, etc. 

So as a whole your rental losses can offset your agent income. 

Not sure I have seen a 1% rental on a newer home in 10-15 years now. 

There’s no percents of the rental mortgage or anything like that. 

Whether you choose short-term or long-term rentals, learning and analyzing deals will help you make the best decision.

A second consideration is that condos locally have become more adverse to rentals. 

For example: If a tenant applies for a $1,000/month rental and they have gross monthly income of $3,500 they meet the first criteria, but when applying the second criteria you find they have a $500 car payment and $250 child support payment.

If DTI will be the only issue for the rental purchase, a DSCR loan would likely be a good option.