Furthermore, we have a less than 3% interest rate on our home, and we love were we live.My family and I are finally getting to a position in life where we are financially secure.

Flippers pay the highest taxes possible as they are paying regular income tax,not even capital gains tax rate, much less zero tax. 

Or worst case, landlording is often an uncomplicated exit with a For Sale sign (and can even be a profitable exit depending on the market)...

Those two together create equity.Here's what I want you to understand about “buy and hold” residential real estate:Let’s use a single family home with a property value of $300,000Let’s use an initial loan amount of $240,000Let’s use an interest rate of 7.25%And I’m going to give you $150 of cash flow per monthUse a 5% appreciation amount for your property per yearLet’s see what happens after 5 years:After 5 years…$150 of cash flow per month = $9,000Your mortgage has been paid down to $227,000 = $13,000Your property is now worth $382,000 = $82,000So that’s $9,000 of cash flow, $13,000 of principle buy down, and $82,000 of appreciation.

We use a few different companies that range from $1900- 3200 depending on the extent and company. 

Tenant laws depend by regions, but in general it's a bad idea to accept partial payments as there is a chance you need to wait longer for evictions.

Keep in mind if your jurisdiction prohibits discrimination based on source of income this works both ways... market rate tenants have the same right to rent your place as those with a voucher.

If the first mortgage is foreclosing, it will wipe out most of the junior liens, but depends on what those junior liens are.  

There are many use cases out there and truly depends on what you want to use it for and how far to take it. 

Although I'm curious depending on state to state, if the tenant could cause a ruckus if the lease was say 12 months.