<prompt> Human: I have it in my head that buying rental property would be a good idea. Im currently maxing out my retirement accounts and am intrigued by the idea of earning monthly rent checks. Im 30, not very handy, and live in an area with cheap properties and cheap rents, however there is a college in town. If I went for something now, I would be paying PMI. How can I get to the point of definitively taking the plunge or not? Is there something I can try to give me a taste of what its like?  <response>: Be diligent in your math. How much rent will you get vs ALL the bills. Mortgage, taxes, PMI, repairs, homeowner insurance, maintenance, budget set aside for unexpected major repairs like roof work, pipe burst, etc.Its not always a slam dunk that you can even cover all your bills let alone make a profit each month.I have a rental property and my golden rule is that it is much easier to keep a bad tenant from ever getting in than it is to remove a bad tenant. 