She can live in one and collect rent from the other one.

Good information to collect so I can ask better questions.

I can either purchase 10 years for $130k and I would be able to quit my job next year but wouldn’t be able to begin collecting my pension until I’m 50 years old.

If you understand the lender's options when it comes to “taking over the house,” you’ll see why everyone here is correct when they say that lenders prefer to simply collect your points and interest.The cleanest way to obtain ownership is thru foreclosure.

I pay $300 realtor commission for new tenants.Otherwise 8% of collected rents. 

They issue me 1099 Misc's for all gross Rent collected.

If you aren't going to self manage this changes your cashflow by $138 (6%) to $230 (10%) of rent collected. 

However, I use Cozy for rent collection and it's free. 

Is it customary for the manager to get a percentage of this 10% or any other fees collected?

On the cover the POHs seem like a good way to collect rent but they also come with the normal maintenance, frozen pipes, etc issues of running a rental property.