2 points
1. Whether or not you can do anything to rent depends on a.) your state lanlord tenant laws b.) type of lease for current occupants. If current tenants are on term leases you may not be able to do anything until that lease is up. If they are on M2M leases then you may have more options available to you.
2. You will find some people like @Thomas S. who swear by M2M leases. There are also many others (myself included) who love term leases. All of our tenants are on 1 year leases. This guarantees us a tenant for at least one year. This also allows us to know when we could have possible vacancies for better planning, etc. With proper tenant screening I believe you can avoid many problems that people will point out with term leases. Also regular visits to the property and inspections. Treating tenants like customers with good service (no not pampering) and fairness goes a long way to making life as a landlord much easier.
Just my opinion, and you know what they say about opinions. :)