I rented out the first house I ever owned for three years before the tenet ask me if they could buy it, which they did. Ive heard lots of horror stories but I had a great experience being a landlord. Of course I hired a realtor to handle it for 10% of the rent. Ive always had a dream of owning a 3-flat, renting out two of them and living in the third, all free due the income of the two rentals.