Additionally, we rented out a room for one year.

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

@Joe Michaels, What a lot of investors will do is to use the 1031 exchange as @Michael Plaks said, isto actually "acquire" additional depreciable basis. 

I have seen all sides of this equation, self managing my own properties locally, but moved with the Navy 1000 miles away and managed the same rentals from afar, and had friends here in Memphis that had 18 properties and had them all with PMs with varying levels of success, some bad and some great.Self-managing brings about an additional level of responsibility that most of the time is fine, but that is not what you hire a PM for.

This would be my first property but I would like to find someone that might be interested in partnerships in additional properties in the future.

It could give you peace of mind as you focus on your family and move to your new home, without the additional stress of managing a second property from afar.Best of luck with your decision! 

Furthermore, whole note investments benefit from an additional 0.5% annualized yield and are entitled to a share of any extension fees charged to the borrower."  

And add an additional security deposit, but more importantly is "Why".  

If the numbers work when I run them, I know reality should only be better.ActualsPurchase Price $227,500Interest Rate 30 year conventional 6.375%Homeowners Insurance = $920.21Rents = $1,900 per monthTotal mortgage + escrow = $1,182.58 per month with rents at $1,900 my actual cashflow is $717.42.Additional numbers behind the dealTotal cash to close = $87,475.55Down payment = $80,000Homeowners Insurance - $918.36Rate Buy Down 1.283% - $1,892.43We paid to lower the interest rate by 1.283% over the course of the 30-year loan.

Wasn't sure if I would create additional equity from getting it rezoned to Res.