Don't forget that you need cash  reserves and closing costs in addition to the down payment. 

I was also read something about it's easier to pass it on to the kids. 

I am more interested in learning about the best way to collect and report rental income and also learn any key things I need to do in order to make sure that it will count toward my yearly income so that I can qualify for additional loans in the future. 

Sometimes, Additional or accessory  Dwelling Units are allowed but local owner must still occupy the residence.

Additionally, I am a finance and commercial real estate attorney and I'm hoping to have the chance to develop relationships and clients in the Pittsburgh area. 

Those that have housing would not be able to do it as it would be additional income making a paperwork nightmare when the renter paid late or early.

In addition to encouraging you to join TRIG I’d encourage you to also check out the Hampton Roads Landlord Assoc and Rent Ready Norfolk.  

I was also read something about it's easier to pass it on to the kids.

Actually, that extra 800 is post-addition of a bedroom I realize- its now a gross rent of about 6000, which I still think is workable.

Also, we purchased an additional warranty for 3 items, so if any of the 9 items break after the 1 year, it will be covered.