Otherwise it couldn’t be free and clear and you would not be able to purchase it.  

Especially because in 10 years, if you need cash, you could consider a cash out refi, the tenants pay the mortgage, and you just got money tax free. 

As mentioned before, please feel free to reach out to an investor friendly CPA to help with your tax situation.

Mine is at 2, but honestly could go on forever.If anyone is reading this and wants help, feel free to reach out.

@Camille Sola IsabellYou can buy the Illinois Residential Lease here https://www.biggerpockets.com/landlord-formsYou can get this for free if you have a Pro annual membership. 

Time for a pro and con list: Pros: consistent rent prequalified tenants higher profit margins free marketing less evictionCons: required inspection security deposits are not included delay payment before the first payment

I am simply looking for the best option, and am torn, because while I know I want to become financially free by 35, I also know I will never get these college days back, to simply do as I please relatively, with the least amount of responsibility I will have from this point forward.

@Collin H. has more data on how far he thinks revenues can drop, he has seen the volatility in the smokies and will know more first hand knowledge. 

So, effectively getting some of the profit tax free. 

See here: https://www.biggerpockets.com/smarterA good place to start is with the free guides, such as "The Ultimate Beginner's Guide To Real Estate Investing".