Unless you can cash flow more out of the investment property or your personal budget can support the $500 increase, this strategy will essentially have you in the negative and not even breaking even. 

I personally find this to be one of the most frustrating parts of starting out.

Personally, we wouldn't have been able to sanely keep up with it without a dishwasher. 

There are so many more questions to ask such as your personal income, savings rate, etc., but let's take this on the surface.

100-person employee-owned company with a strong balance sheet. 

There is more to a loan package than a mortgage and note (such as personal guarantees, assignments of rents, enviro indemnifications, etc. etc.). 

Agree that amount looks very small another option, not sure what your goal is, but if you are looking to purchase some down the road, change up your strategy and maybe do a personal line of credit for now.

You told me personally that you intended to use Holton-Wise as your Property Manger.

Hey Josh, I have had some success with this when it is hyper focused and personalized.

@Daniel King most DIY landlords use whatever works for them and their tenants.Just NEVER collect cash in person!