Our financial associate is prepared to hire for this BOP immediately. 

Let's assume that's over-spoken and it's really half that, $250/month.I take out my financial calculator. 

We do offer some protection because we feel responsible if we didn't screen the tenant well.

I will have multiple tenants and running my home as a legal business, but especially because of the higher turnover, I want to be prepared by creating an LLC to protect my business, and to employ some part-time help with the management of the property on-site.  

lolLots of financial intercourse going on!!! 

There is a protective covenants on the property which is wonderful as it protects the home from any dubious interests that would endanger the property.

I make a decent living working at a busy restaurant here in town, but I am very interested in using real estate investing to provide me with some financial freedom.

@Daniel @Daniel Highsmith the "gotcha" could be the general financial stability of the HOA.

As an owner-occupant, you may get homestead exemptions and/or others.Again, your financial professional will be your best resource.

I hope you'll learn a ton of stuff and work toward your financial freedom.