@Natalie Schanne Yes, very good point — the vacancies are definitely eating into my overall profit.

The second thing I look at in my state where the only real tax we have to fund everything is property taxes is the property taxes on the house as they can vary as much as $3,000-$4,000 for houses in the same price range and that can definitely eat up your cash flow.

@Sanjay SharmaIt's not like going out with a vegetarian: I'll eat your steak, and you can indulge on my broccoli.

Also, try not to “eat” your profits so you have more available for the next one!

It’s hard to make such a big decision so quickly, but I’m confident that doing the research before will help me make a quick and conscious decision.

It can make the drains run very slow and eventually will eat through the pipe. 

You're right about property taxes, they are pretty brutal and that eats up a huge amount of the rent.

Prior to doing so, I have to map my expense items in the chart of accounts, to those in the schedule E at tax time.

It would be like trying to have a baby eat steak and potatoes.Just start off with what you can handle for now.If you do new , do not compete with a property where you can here hammers.Don't compete with the "Big Boys".   

This way, you have a cake and eat it, too.