I have been doing it for 5 years now. Sounds like good cashflow. There are things to learn.
1) Treat your business as a business, not a hobby.
2) Make sure you are up to date on federal, state, and local renting laws.
3) Make sure your renting documents are compliant with the laws.
4) Save about 50% of the rental income for future damages, repairs, and improvements.
5) Respond to tenant complaints quickly. If they report a problem fix it quickly. If you notice a problem fix it quickly.
6) Keep up with your local employment data and rental competition trends.
7) Never get emotional. Always handle and respond to any situation in a business tone(airplane pilot voice). Be the voice of reason.
8) Learn how to be the peace maker and problem solver.