Plus lime is increasing in usage.Downsides.  

Since you're considering renting out the condo in 3-5 years, refinancing could help reduce your payments later.

The house I would be renting has a current mortgage (including escrow) of $1,100 per month.

Quote from @Alex Olson: Kansas City is a great market for Build to Rent and traditional garden style apartment complexes.  

Just sent them a rent increase notice every year.

You didn't tell us where you are located so it is hard to tell if you should try and find another place or not.If the folks are just willing to rent, then finding them a nice rental seems to be in order.

They should know the market better and keep your rents up.

I would MUCH rather pay hourly for my pm instead of a % of rent.

Quote from @Ven Bud: After hearing to lot of bp episodes on negative cash flow, I have a question.I am currently living in my primary residence and planning to purchase an investment property, and obviously it is going to be a negative cashflow (bay area), but I am of the opinion that as long as the rent on the investment property is atleast going to be greater than my current primary residence mortgage it can still considered as positive cash flow investment.The investment property is going to be in a much better location (for office commute, bay area proximity) than my primary residence.

STR in Boston (and metro) are mainly for owner occupied residents only which means you can rent your bedroom or an adjacent unit.