My first rental- my principal residence...

[Jared Lichtin]

I know I usually post about flipping, but I am moving to Houston this summer, and really want to rent out my house in Cleveland.  Within 24 hours of posting it on zillow & craigslist, i had 20 emails and 5 phone calls.  By sunday, a handful of people will have seen the house.  My piti is $1100 and I am right on the market at $1800 monthly rent.  However, there are about 5 different families who really like the place, want to rent it, but I find myself unprepared....

1.  what is the best way to go about printing out rental applications?

2. how do I do my due diligence to screen my tenants effectively?

3.  The market for a house to rent here is nonexistent (I bought a house in an incredible school district, thats why people are willing to pay this much).  So, can I bid people against eachother to get a higher rent?  Say, submit your highest amount?  I have never done this before, so I am very inexperienced, but with the $700+ per month cash flow, I do not want to sell it.  The house has brand new everything and runs perfectly, 4 b 2 bath.

Brief advice?  not too long, just looking for some help screening tenants and getting the highest rent possible.  How am I supposed to deal with 30 people at once trying to rent my house?  Good problem to have I guess... i just dont know how to handle it!

Thanks.