I'd also add to that that you are paying a 20% withholding tax on gross rental income. 

How do you pay for the tax and insurance?

And of course, take advantage of the tax benefits along side my current business income.Viability of the idea?

I have a followup question - I will realize a lot of capital gain from this home in Idaho, so I think unless I purchase a new primary residence I will have to pay that capital gains tax. 

Same tax situation and more likely higher potential to appreciate faster.

There will be no assessment for increase in taxes or insurance so remains at $1935.

I currently have a pre-tax retirement account with employer match and a Roth IRA invested in the stock market.

How do you pay for the tax and insurance?

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

Closings that have been scheduled have been moved several times because they do not cooperate.