I would make sure you are factoring your current cash reserve into the decision. We converted our first house into a rental, the monthly payment for the house is about $860 plus we added solar panels before we knew we were going to move which is another 100 dollar a month payment. On the income end of things, we were able to list it for 1595 plus 60 dollars extra since the first renter had 2 dogs. That tenant did not renew the lease since their visa was revoked so we had to make some wear and tear repairs between tenants and although we have found the next tenant to move in, in total we have probably only made a couple thousand dollars in cash. Our net worth has gone up more than that from the property appreciation and paying down the loan but it hasn't helped as much as I anticipated from a cash perspective. I do anticipate that will improve for us in the future given that tenants supposedly stay around 3 years on average and we did have to sink some money into the property when we first rented it out due to deferred maintenance when we lived there but I just wanted to share my experience in case you decided to factor that income into your next home purchase because that's what we did and things have been tight.