Even if you roll in the closing cost into the loan, it should only increase monthly by no more that $30.

But you all have convinced me I don't need to quit my day job in order to do this, and I'm feeling much more  confident that I know enough about most of the big hazards to get over my fear of getting started.  

Your goal is not to avoid raising rents it is the opposite in order to increase income.

@Alison Rauch yes you can pull cash out later assuming value increases.

I'm curious what leading indicators people use to determine what areas may increase in value.

At a certain point, the market will perceive increased risk in the bond market (already happening), and the way our national debt is going this will eventually happen with US treasuries too.

I plan to, but also plan to increase the deposit.  

It increases property value?  

I am just trying to educate myself as much as possible so when a good opportunity arrises, I can pull the trigger and feel confident.

@Jonathan Depa I'm not sure that short term properties are dealt with any different than long term tradition rental properties, but in 2009 Fannie Mae increased the number of properties that a bank or financial institution can finance to 10.