Income (adjusted for the lack of a 2nd bedroom), all expenses, what other capital expenditures have occurred?  

I can guarantee you that, if you hold this property, unforeseen repairs and capital expenditures WILL come up (likely when you least expect them).Best of luck whichever path you choose.

It would be great to know rents and what all his monthly expenses are and what significant capital expenditures need to be done.

Instead of a quick turn around though I was planning on renting with a cash flow of $200 after all other expenses are accounted for including HOA, maintenance, capital expenditure, etc.

Ok, so running some real quick numbers.1700 principal and interest200 property tax100 insurance300 HOA200 Mello-roos (had to Google that one)1000 (50% of projected rent goes for capital expenditures, vacancy, repairs, property management)So, you can roughly expect $1,000/month negative cash flow.

Management decisions that are relevant in determining whether you actively participate include approving new tenants, deciding on rental terms, approving capital or repair expenditures, and other similar decisions.

I read through countless articles online, learning about all of the different expense factors, from mortgage to taxes, insurance, vacancy, repairs, capital expenditures, water & sewer, snow removal, yard care, HOA/Coop dues, and property management.

There are several pros right off the bat, all new appliances so there will most likely be no capital expenditures in the near future.

You will want to set aside dollars for maintenance/repair expenses and capital expenditures. 

"Reserve funds" are typical for repairs, to cover vacancies, and capital expenditures.