Renting my primary residence?

[Marc A Weindorf]

I am 38 years old and recently sold a manufacturing company.  I relocated to Houston Texas and paid cash for my home. I was considering renting it out for my for first investment.  After all expenses, I can profit $1700 per month.  A new mortgage would be roughly $1500 per month.  My theory is that I would be sitting on 2 investments in an A+ neighborhood when I only paid for one.  Is this a good long term strategy and an easy transiton into the world of real estate?