My question is: should I switch to a 15-year fixed loan and put more money towards my mortgage on my current property so that I am paying more on the principle rather than interest or should I continue with the 30-year fixed rate so that although I'd pay more in the long run, I am paying a lower price each month, allowing me to save up to purchase a property to rent out and make a profit off that? 

My question is: should I switch to a 15-year fixed loan and put more money towards my mortgage on my current property so that I am paying more on the principle rather than interest or should I continue with the 30-year fixed rate so that although I'd pay more in the long run, I am paying a lower price each month, allowing me to save up to purchase a property to rent out and make a profit off that? 

But my understanding was that would only be the principle and interest not the full rental income. 

Certain principles apply to residential real estate as well.

I will absolutely be in contact, it will be great to discuss objectives and strategies.Thank you!  

I know local companies that do it at 8%General guiding principle I've read (10% + first months rent) but good to know you're seeing less than that in Austin.

If you're only objective is to sell your own properties, I would look for the cheapest firm to work with.

.- In addition to the equity and little bit of cash flow, with extremely low interest rates, we're generating a good bit of amortization (loan principle pay down) every year.

Pro-tip for this area, choose the area you like the best and is good for your pricing objectives.

Principle paydown, appreciation, tax advantages, etc.