This takes a little more work, but it's the fairest and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.

For choosing an area: back then I did it by looking for frontiersman in the bodegas.  

You have to make sure that whatever company you choose will maximize your profits. 

I would encourage you to sit down with a couple of real estate salespersons and choose one based upon experience as well as knowledge of the area. 

If you decide to exit real estate entirely, just make sure whatever investment path you choose aligns with your goals and risk tolerance.

Quote from @An Lan: I am not a professional real estate investor, I just invest in houses as a safe asset and do not choose to rent them out.

It does however give you a degree of independence to choose what you want to do.As your portfolio grows you'll also feel the weight of future capex responsibility more, which ironically points you to growing more cash flow through more real estate.The other issue is that you are chasing a moving goalpost.

Quote from @Nate Meeker: Great insight, I am personally choosing not to file these for clients, but am providing a free guide to help them.  

It's lengthy and of course, they can pick and choose what to read or jump around to what they want to learn. 

For the bedrooms and bath, choose colors from the rug, and use them, you can't go wrong!