I bought a house in Arvada three years ago which I now rent.

Refinance the FHA property into a conventional loan to get rid of the mortgage insurance if the rates are still favorable and you've got enough equity in year three and buy another one with 3.5% down using FHA (again, you must live in it for at least a year). 

@Nathan G. so it sounds like the "part time" aspect is in mindset and action rather than hours worked.

I purchased the property three years ago (04/2014) for $289,000 with FHA loan and PMI in it.

I tell them that the reason I am being so thorough is because I need to relay very clear instructions on what they need to do since I am largely unavailable during business hours.

Instead of using a manager, simply look to use a handyman as a proxy and pay them hourly once a relationship is established.

If you can find it, the best first investment would be a residential multi 4 unit where you live in one of the units and rent out the other three. 

Learn the difference between a good PM and a bad one, try to interview at least three, and then make an educated decision.

I lived on the second of three floors in a college apartment, that was the worst of both worlds!

The first time I was there I spent three months the second time I spent one month.