.- Use a 3rd party loan servicing company to collect all mortgage and escrow payments and make all appropriate payments to the bank lender as well as seller finance lender.   

Luckily I will be doing this on a full time basis and the many years of project management experience in Oil and gas Services contracting should be of some help.

@Scott Rubzin What services are you most interested in utilizing with a management company?

Of course that doesn't cover all the other lenders but anything Fannie/Freddie backed.The national servicing settlement of 2012 included 5 lenders specifically. the program did sunset and it did not compel junior lien holders to be forced to accept senior lien holder offers. 

I've used a local tax service business previously to prepare my taxes and they said they just need the mileage related to rental expenses.

Unfortunately I live out of town and every time I would schedule someone to do maintenance, bug service or any type of inspection she would find some excuse not to be available or wouldn't  be present because she "forgot".  

Another thought is to sell our house, 10.31 exchange the equity into a new house (aim to keep new mortgage close to what we are currently owing) and the $10k cash goes towards house preparations to sell our home and then moving costs etc.

Voter-approved bonds can increase the 1% base rate, such as bonds providing funding for schools, parks, or other community services.

When the rest of the house is put "in-service" as a rental, you would have more depreciation expense.

Anthony -  thanks for the question … I would recommend that you  contact  your bank  and whomever else you want ...using the same  exact  scenario and questions - outline / ask  whatever questions you have ...maybe gets some  basic  quotes ….once these  conversations are  completed - make a  decision as to whom you want to use for the  pre approval/ pre underwritten process ….. the FHA  product is  very homogenous and  shouldn't  be too much different from one lender to another ….. the  customer service might make a difference