i love the idea @Judy P. has if its financially possible for you and if zoning allows it!....

I wanted to share with you guys my financial position and some of my goals so I can then ask you guys how you suggest I proceed.First of all I turned 27 years old this June and live in Moore Oklahoma.  

We are looking forward to this new adventure and really hope to secure a lucrative and stable future for not only our child but his children too!

The person managing for them (not always a good, licensed property manager, but one that will do what the owner says) gets a new tenant in quickly that has first months rent and security deposit and some form of job.  

If anyone has any good books or websites they can direct me to that discusses real estate, business, or financial education please let me know.

Meaning, no one chooses to live in higher crime, lower rent areas, but because of their financial situation, that is where they end up.

I use to not accept pets but then the tenant would sneak one in.Now I charge an extra security deposit of $275 per with a max of 2.

I do not want the income to flow through to my personal return because I want less income to be reported for better college financial aid for my kids.  

You may be able to find a financial partner who wants to diversify and not do any hands-on work.  

Also have you read through the condo associations rules and checked to make sure there is not a large assessment coming or that the condo association is having financial trouble?