Need to have deep pockets and buy right in the appreciation cycle for those equity gain only markets to have a chance at working.People employing this strategy should only have a small percentage of the overall portfolio dedicated to it.

Phillips, Gotha, parts of Ocoee; Seminole actually has more good schools than Orange County, and you can check out Altamonte Springs and Wekiva Springs.Disney also employs over 50,000 people, so Kissimmee, Davenport and to a lesser extent Poinciana are fantastic rental choices as well. 

I do employ a property manager (PM) and the rates you asked about seem well worth it, especially when compared to other vacation areas.

That makes the income subject to employment taxes.

We both have old 401ks from previous employers.  

I can't think of any business that employs humans that does not make mistakes.  

I am still learning the basics about loan options.I have very good credit (650-700) and no recurring debt payments, but I am self-employed.

Are there major employers hiring?

For example, skip tracing and background checks (not employment or tenant, as they disallow that.) 

But it goes deeper, larger debt loads on non liquid assets requires analysis of cash, use of cash, inventory turn over or how fast we turn over deals or tenants, how quickly we collect revenues, tax liabilities, seasonal changes in those areas of business and real estate that are subject to seasonality (vacation rentals, apartments near colleges or seasonal employment, think motels or restaurants or gas stations and C-stores).