If there isnt a substantial difference between your payment on one of them, and the cash flow generated from 2 of them, you might be overplaying your vacancy risk.

My vision is to rent the home for about 10 years (or longer if there is still demand).My thought was to sell the home just after the 2 year mark for a substantial profit to an LLC that I will create.

For those who are able to save more than $30k a year or have substantial liquidity (over 200k), being a landlord and especially flipping is a lot of work.

They generally want to see a plan from the landlord/owner of how they will put another tenant in and what the new value and lease terms are estimated at.The early termination you would want to be substantial from the past tenant if they are a strong corporate guarantee.

@Adam OdomI've seen banks make loans to irrevocable trusts but only under exceptional circumstances and for substantial trusts (say $50 million and above).

The risk is mitigated because of the substantial equity you have built up.

I suspect in high demand expensive markets it is tough to get properties substantially below market value.

I remember the best years ago when my father was teaching me all about rental real estate in Australia.It was not unusual to had several European generations living in a home & they often collected a substantial amount of urine to boost the soils deficient in N, K & P under the fruit trees we had on the properties.

Once everything is in, and it's a substantially complete application and the borrower has provided what the lender has required, the clock starts.

Commuting off-hours will be substantially easier.I can help you to make some smart decisions regarding the towns you want to live in.