Anyone own a rental property?

If you don't have spare money, you can't afford to hire a property manager.
Not actively managing means you're limited to $3,500/year in losses (if you have expenses, etc.) It means giving up 10% of gross. It means paying someone to fix pretty much anything/everything.

I've been in the "can't afford my home mortgage and an empty rental mortgage" situation before, and it sucks...especially if you go 2-3 months between tenants.

On the plus side, money is cheap now (historically low interest), but...you're signing up for more debt, and if two things go wrong (e.g. vacancy and job loss, or mold discovery and your home needs a frog, or...) you'll be in a world of hurt.

I've made money in rentals, and I'm currently losing my butt in them...it's not easy money.