it's just trading a rent payment for a mortgage payment. 

You qualify based on the market rents, lease agreements, or short term rent survey covering the full mortgage payment.

You might need to find a local private lender/broker who can help you with getting a second mortgage on your investment property.

My mortgage is $1820 + $430(HOA) monthly and I owe $288,500 remaining.

Seeking advice and financing options for an inheritance buyout of a mortgage-free property, where I am one of a handful of beneficiaries.

Then it is time to invest in real estate.There are other legs to the three legged income stool… appreciation, and mortgage pay down.  

I will be living out of state away from my property so I want to be educated on how to properly choose a good property management company.

An old guy (to me then--- Im an old guy now) who owed dozens of homes all overe the central states once told me:"They keep makin' babies but they dont keep makin' land"  Ive either been a mortgage broker, real estate broker or appraiser since 1980. 

Nevertheless, whatever market you choose, I advise you to have a proper team in place before buying a property. 

They are investor-friendly mortgages that qualify a deal based on the rental income and do not look at your DTI in any capacity.