Personal single family homes do not make the best choice for rentals. $1400 is low for a $200,000 investment.
Can you be certain you will infact have a positive cash flow. What are you basing the numbers on, how much have you included for such things as vacancies, advertising, insurance, legal, evictions, vacancies, utilities while vacant, maintenance, major repairs etc.
More importantly, in my opinion, are you prepared to live with the damage and deterioration that tenants do to your property.
Renters generally do not respect and care for a property to the same level as owners. They use it and move on.
You must then invest time and money to resell to a new owner unless it is sold as a rental unit. Selling as a rental unit means the rental income will determine the resale value.
Do you know what is involved in being a landlord. Are you prepared for the late night calls and difficult tenants crazy demands.
Turning your present home into a rental property because it is convenient is not the same as investing in a income property.
They are not necessarily the same animal.