Yes, sounds like quite a nice plan.
I don't know if it is this way around your area, but in my town, all the rental property is securely in the hands of, none other than,
our wonderful friends of the FUCKING SCOTTISH FUCKING RITE!!!
I say that in the kindest terms possible, of course.
Not immediately related to what your point is, however, speaking of real estate, have read online that it is so over valued, that when the American dollar finally drops to a point of no return, many people with be indentured with debt that they have no real collatoral value - providing proprty values plummet - instant bankruptcy.