If, however, you're converting it into a "targeted" property (a rental where a kid will live), you need to get certified and follow RRP guidelines and lead abatement laws.

My kids are older....

It actually is an eye opener for everyone to be more vigilant whether they have kids or not, imo.Kudos,Mary

They are young with 2 little kids and they keep the place nice.

At this point, we have a babysitter come over on Saturdays to watch the kids so that we can have an extra 3 hours to knock out 3 or 4 of the courses each weekend along with the hour or two each night that we are already spending. 

I really didn't want to be a landlord, but a 2 bedroom would at least not attract large families/kids.

As a thin, malnourished kid, it was a lot of work to carry those 2 heavy buckets of water into the house.

To me freedom of time will mean being able to spend time with my kids, not having to ask a boss for time off in order to go on vacation, being able to plan spur of the moment trips and activities, working on projects and issues I am passionate about, and having the time to give back to my community. 

With kids, creating an income stream would be a more stable option and also (theoretically) allow you more time with them.If you've got the ability to get large loans you might want to consider turnkey properties since those will provide you with income from day one and not take up much time.Lots of options!

I have three kids, am married, and will be going back to school (as well as working full time) in September.