Need Landlord Advice

[Silas B.]

I am getting super close to getting a cash flow rental property in Alabama but I have a few questions:

1) Property Management. Its tough to find a property management company that will manage homes that bring in less then 1000 a month. Any other options or ideas?

2) Insurance. I was planning on having landlord insurance but should have some sort of insurance to cover (accidental or intentional) tenant damage (let's say the damage destroys the kitchen and I gotta pay 20K for a new one). What's the best thing for this? I would like the tenant to have renters insurance too.

3) Lawn or landscape care. Should I have someone mow the lawn every week? Should the tenant do this? What's best?

4) Cash flow. Looking at homes around 100K or under that rent for 900 or 1000. By the time you have the morgage, taxes, and insurance and property management there seems to be not a lot of profit (300ish a month). What's best in this situation, a bigger down payment? Increase the rent slightly over market value? Other ideas? Or is that seem about right ($300)? I could put alot more cash down (20%+) but wanted to have reserves to fix anything after the house is purchased or if something breaks a year in (HVAC, water heater, repairs, fences, etc).