@Oliver Martin You're locked into a sweet interest rate.  

At 8 caps plus there is room in the marketplace to go a few more years for good deals and long term debt to lock up.

It includes the management fee and all these other misc repairs each month such as plumbing, broken locks you name it.

The goal is not to just lock homes up for sale and sell them if the numbers dont work. 

I believe real estate to be the best investment - I have tried other investment ideas - short term stock trading which did not go all that well buy I did no lose just got locked into some deals for two years.

Is this a good way to begin, or would FHA be a better way to start, with VA no down payment I would think would be an advantage, I do have $30-45,000 willing to use, if needed, how long would it need to be an owner occupied property with VA before I could get another through them, what would I need to do to get that second property, refinance, am I then free and clear to go through VA again, how do I max out my VA loan, can I obtain two properties as long as I don't exceed the max amount, if I'm interested in a 2nd property can I get a FHA loan while already having a VA loan, or should I just start with FHA and pay the 3.5% with the cash I have available, just don't want to get locked into one property using one type of financing and can't move on to obtaining that 2nd property and so forth

Given your solid cash flow, I'd establish a solid reserve and then expand while you can still lock in low interest.

We have a secure lock box to keep them in.

From the initial look at the numbers it looks as though you'll be completely locked into this property with no equity and thus no flexibility.I'm confidant that with more time and effort you can find a much better opportunity in Kansas City.Just my rookie .02, I hope whichever decision you make is a blessing for you and yours. 

He looks into your eyes and ears, and up your nose with a little flashlight.