A house that makes an idea rental is often different than ones that makes the ideal forever home.

My asset protection attorney setup a Delaware Statutory Trust for my rentals.

One you own the new property get a tenant in, obtain a rental property loan to payoff the seller financed loan, and wait the minimum about of time (usually one year) to convert the property from rental to o/o.  

You want to keep paying cheap rent but get an A-class rental in exchange.

It’s worth ensuring that your potential commute is manageable.Something else you may consider is mid-term rentals.

We plan to put down 25-30%, and manage it as a midterm rental.

Are you looking for a real estate agent that specializes in Midterm rentals?

I live in Pensacola and manage my own rentals here, I don't want to manage a property remotely though.  

Nowhere is safe.  50 years from now short term rentals in residentially zoned areas will not exist. 

While a personal account is acceptable, setting up a separate account specifically for rental income can make bookkeeping and tax reporting easier.Regardless of the payment method, always provide tenants with receipts for their rent payments.Keep detailed records of all rental income and expenses for tax purposes.Consider implementing a consistent rent collection policy to avoid confusion and ensure timely payments.Be aware of local laws and regulations regarding rental properties and rent collection in your area.