We try to have all of our leases end in March-June so it is easier to lease the property in the spring/summer.

Additionally, it's easy for a house on one lease to get absolutely trashed by the renter.

If I’m setting up leases I assume I need this license.

-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate? 

Since you're wrapping up paperwork, make sure your lease terms are solid, get the right insurance (landlord + homeowner), and set aside some cash for future repairs.

If there's six months left on the lease, there's six months left on the lease.

I live in a lower-income area, so I figure that the better tenants you will get with a safe house, the ongoing safety the tenants feel, and the lowered risk of a break-in (when occupied or vacant getting ready to lease), and reduced headaches/vacancy/potential damage are worth the marginal up-front cost of having it installed.

Here's a little background on Tenant situation...has 2 or 3 young kids, an adult sister, an aunt with her male friend and the lessee has a male friend, that all appears to live in the apartment but aren't on the lease.

They fail over time.Your lease will say what your tenants are responsible for ordinary use plumbing issues.

If you feel confident in the tenants signing those long term leases, this is a slam dunk and you'll have a cash cow on your hands very quickly!