My DH and I keep being lured by the thought of rental properties. On one hand, I don't want to get involved in a business that is going to suck a lot of time, energy, and worry. But we keep thinking that if we would want to get into it, now would be the time to obtain properties. There are some foreclosed condo units that are attracting us right now.

One reason we like the idea of rentals is because we are both teachers. We are comfortable now, but it would be nice to have a back-up income in case one of us is let go, burns out, if we have a baby and one wants to stay home, etc. Plus every bit gets us closer to FI.

Reasons not to would be the risk, the debt, and that it puts us further from our goal of paying off the mortgage on our current home, plus the life energy invested in screening applicants, dealing with maintenance and accounting, not to mention if something bad happens and having to try to evict or cleanup bad damage.

Is anyone into rentals? What lessons do you have? What resources are good? I can Google 'til my fingers fall off but the best resources always come from people in the know.

Even if we don't go for it, our recurring conversations would be better informed with some research.

Thanks in advance to my SLN friends!!!