There's a lot more than property management is going to do though besides identify the market rent and screen tenants though, so be prepared for a fair amount of additional hands on work if you omit management.For screening, just don't skimp on the reports and don't go with a "budget" or untested screening vendor.  

If you go with the Foremost Vacant or Rehab type policy then you get liability coverage (don't skimp here) and the minimum earned premium is $250.00, so set it up a monthly basis and then you wont have to pay any more than you use, or a min. of $250.00.

Are you guys just taking what is there and making less per deal or skimping on the finishes? 

Review the leases of the tenants living there right now.Don't skimp on a professional property inspection prior to purchase.

., Don’t skimp on the lock, use a contractor grade lock, if possible, get the lock installed on the inside of the cage (no room for bolt cutters to open), and make multiple copies of the key. 

The creativity I think you could bring to this is simply avoiding expensive interior remodeling - just find a cheap space, fill it up with thrift-shop desks, get the very best internet (don't skimp on that :), and rent desks cheap!

In fact, Private and Hard money are really just marketing terms.The reason it’s important to understand this is because some here apparently think cynically that even though most Private/HML terms are variable or negotiable, HML’s are somehow stricter or more demanding and it’s ok for a Private lender to skimp on the paperwork. 

I could see myself trying to skimp or avoid repairs costs altogether if the margins were that thin and if I did that both the tenant and the property would suffer. 

Good quality photos are free to take but so many landlords skimp in this area.Price the unit competitively, which means you have to know your market - or you can talk to a local PM and ask what they would rent it for.Of course, the place needs to show well so make sure it's clean, well lit and smells good every time you show a prospective tenant the place; first impressions mean everything for renters because they tend to move quickly when they find one they like.I assume you have a good standard lease agreement but if not, there are templates for just about every state in the BP FilePlace - https://www.biggerpockets.com/filesIf the unit is move-in ready, you've got good pics and know how much to rent it for - the next step is to list it! 

And don't skimp out, they are the ones who will make this experience great or awful.