Considering renting instead of selling

[Pradyumna Vanam]

We moved to a new home but could not get to sell the old home yet. With the market on a down turn I am not sure selling is a good idea. I am starting to think if I should rent it out for an year or so. I tried putting the numbers together and looks like i will have a reasonable cashflow. My question is how do I know what updates (if any) should i do to get it ready for rent? Its in a live able condition but would that be sufficient to rent it out? What questions should i ask myself? Or is it easy to have the property reviewed by a property manager to het suggestions? This will be my first rental property so I am unsure about lot of things.