Great in some, terrible in others. 

I actually had another tenant from March to June at about $5,500 per month, but I allowed them to cancel due to a terrible family tragedy that changed their plans.Currently, I've restricted my rentals to be 28+ days to see if I can consistently get longer-term renters.

Even if you left $30k (a lot) in a property that is cash flowing $3,000 a year (not terribly hard to get), your COC is still 10%.

Moving money from one card to another is a terrible idea.... 

@Dave Spooner Yes we are taking up the master room once we get the next property it will just be more cash flow. we are renting rooms to students which has been great so far they all have terrible credit but between jobs and fafsa it is affordable for the students.

@Russell BrazilThe city average is 3.5% according to government data.10% is really a worst case scenario.I am also probably scarred by a terrible PM I had in Columbus that took 5 months to find a renter for a condo.Since I'm just starting out I do want to be conservative, but am I so conservative that I'm pricing myself out of the market?

I doubt I will have any difficulties selling the house due to the condition, area, and the current market, I am mostly concerned with any chance of legal risk, or somehow damaging our relationship by messing something up terribly.

ATL traffic is terrible. 

-Me and my wife are planning to get a duplex  so I could put it toward that - I could not touch it - I could pay off my car note for $15,000 @17 % apr ( I was young and didnt know that was a terrible deal) What do you guys think I should do? 

Great question - and I did try a HELOC to get into investing, but my HOA is terrible and there's a lot of red tape that prevented it with multiple banks on multiple attempts.