I don't want to clutter this thread but had a quick question 168k/yr seems low on over 100 doors.  

lolNo but seriously, you can refinance the property using a private or hard money loan program that offers a no or low FICO option.

@Kylann Griffin hard money lenders would probably loan you on that all day long because they'd be at a very low LTV.

If your Lender makes you pay (them) for MORTGAGE Insurance (eg. if your deposit is very low), then yes, THAT Insurance is "just for the loan".

All in all, the price was very low. 

They'll probably want 6-12 months of seasoning and will probably do 60-80% LTV.

I’ve got the age old question of whether we should sell our townhome or keep it and make it our first rental.This is my first post on BiggerPockets so please let me know if I have left out any information that may be helpful in the analysis.Single Family TownhomeBuilt: 2001Purchase Date: 2008Purchase Price: $270,000Property Tax: $5700/yearHOA: $125/monthWater/Sewer: $1320/year (Must be paid to county by home owner)Insurance: $800/yearMaintenance Costs: $400/year Other planned future costs: Roof (in about 5 years, ~$5000), water heater (in 7 years, ~$1300 including labor), water softener (in 5 years, $500)Current Mortgage (Refinanced in 2012)Term: 15Rate: 3.375%Principal: $140,000Market Value: $230,000 (Upstate NY market with minimal appreciation expected)Rental: $2000/month ($2200 possible but I want to be conservative)I was also considering refinancing to a 30 year mortgage to help with cash flow but I’m not sure if it is worth the $4000-5000 in closing costs to refinance.Normally I would not consider this a good rental property because of the low/negative cash flow.

They do have a huge hardware store (was Ace) in town but the prices there are not going to be competitive with HD, Lowes, etc. 

As far as the stock market goes your money is at significantly more risk than a savings account and it is very volatile in the short term however over long term (10+ years) low cost index funds have proved themselves reliable, unfortunately this isn't a feasible time frame if you are saving for a down payment in most cases.

You may want to consider the seasonality of champaign URBANA, the students/ school year dictate the times you can rent houses.