Or else be prepared to eat ramen noodles for the next 15 years. 

Any major repairs while I'm renting the house out would eat into any appreciation for the year.I don't need to sell the house, but feel that my money could be working for me better elsewhere.

Lots of money every turnover which eats your profits.

My son sat in his car in the driveway letting me know what was going on, and our tenant walked up to the car said he was not playing games, his children were hungry, he was hungry and he was leaving with them, to get something to eat.

That as well as flood insurance, landlord insurance, and capex items constantly increasing will slowly eat away at the cash flow.

Properties built that old typically come with more repairs and cap ex, which can eat away your cash flow.Major things to look at for would be how recent the plumbing, electrical, HVAC and roof was updated.

You may need to hire a property management company to handle day-to-day operations, which can eat into your profits.

REALTOR fees will eat up another $25,000 or more.

Just kidding on that one, but I always bring them Pizza so they don't have to go "offsite" to eat and get lost and not return to work. 

You could use a 1031 to avoid that, but then you have the 1031 fees which would also eat in to your potential profits.