Yes this will be a primary residence but I plan to keep it for a long time as a buy and hold or possibly sell if the market price rises dramatically to give me more cash for more properties.

@David JenkinsCap Rate = Net Operating Income (NOI) / Price of the PropertyNOI = Annual Income - Operating Expenses NOI does not take into consideration debt service, capital expenditures, or depreciation,  Example:  Price $1M, Annual Income $200K, Operating Expenses $100KCap Rate = ($200,000 - $100,000) / $1,000,000 = 10%

Yes - a good consideration to be sure, though still very early in the consideration process.

The best part is you'll be the only offer on the table for consideration, so your chances of getting it accepted are much higher :-)CASE STUDY: 1139 Clinton Rd, Sacramento, CA 958251139 Clinton Rd is a duplex in the 95825 zip code near the Arden Fair Mall and Sac State.

I have seen prices rise in many areas of the country, and interest rates have risen slightly (although I know they are still historically low). 

You've really had a meteoric rise!

Since my local market values have been rising there would be a significant gain if I sold the home.

Everything should be on the table for consideration - can you get by with a less expensive cable TV plan (or no cable at all), can you save money by replacing burned out light bulbs with LED bulbs, can you mow your own grass instead of hiring somebody, you get the idea.  

South Austin 78745 and 78748 have a few duplexes for sale although prices are rising as that area of town is becoming popular.  

Costs will be higher, turnover will be greater, and your involvement will be considerably more.