Refinanced them both to get my money out but they only rent for $795 and $775 but property taxes are a little cheaper in AL. 

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..

Financial freedom requires a passive income that meets three requirements:Your income outpaces inflation: Inflation continually erodes the purchasing power of a fixed amount of money.

where I do think it helps is if your raising money from folks and or with banks..MBA gives some credibility for sure..

Made a lump sum and now I make money in interest payments and I don’t have to have touch the house as far as repairs or landlording at all.  

None of this stuff by itself is a ton of money, but add it all up and it cuts into profits.

What are the considerations for this type of deal?

Conventional loans will follow the same guidelines, here is a good excerpt:https://selling-guide.fanniemae.com/sel/b2-1.3-03/cash-out-r...DSCR loans have flexible seasoning, which could allow you to put the money to use quicker, outweighing some negatives.

Each way you're making money on the property, it just depends upon the type of use you can envision.

They do make sheet vinyl that looks like wood and if you go to a flooring store usually they will have a much larger selection and can even save you money with different types of installation like going over exsisting floors with a floating vinyl sheet install.