From the sale of the 2 homes I would repay part of the loan for down payment.

I do also love my develop and sell model bit it comes with its down sides as well.

And if they do cut on it or it takes a beating, you can sand down and refinish them easily. :)

Talk to a local realtor who works with investors to see if $2600 is realistic for rent and who you'd be marketing to-likely a smaller tenant pool.Most people who rent fall into different categories-those who are just starting out and saving to buy their own home, those who move around and buying doesn't make sense and those who will never buy a home (either can't save the down payment, can't get approved for a mortgage or plain and simple don't want the responsibility of owning a home). 

Brandon You have to get out of Suffolk County and start looking into other areas where you can still get a good deal and the rents offer a positive cash flow without having to put 30% to 35% down. 

If we put the home on the market we would lose at least a month rent and utility cost.Some background on the property is that we put 120k towards a down payment at 6.125%.

I’m in at $190K cash and it will do $40K this year, a down year.   

Also, is no money down really something that is possible?

As a Project Manager, when diving into a new initiative, I'd sit down with a project charter with our VP, and ask questions to gain a full understanding of the expectations of a project.

Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful.