., the main sign was their credit wasn't exceptional, but they made enough money to afford the place. sadly, they've actually taken very good care of it up until now, but i think they don't know how to manage money.i'll be honest and say my mistake was that i wasn't enough hands-on with the tenant selection process and jumped too quickly. i'd hoped to have the place rented out by the end of july before i left for a vacation to costa rica. i didn't market effectively enough and that didn't happen.my property manager found them while i was on vacation. i was hungry to start making money on this home i'd just sunk a significant portion of my savings into and they "seemed like good people." my property manager is taking responsibility for the bad experience, but it was ultimately my ok.the lesson here is to do your due diligence in screening and be patient while you look for the right tenant. i'm losing more money now with them not paying than i would have had i waited for someone better. even worse, i'm going to have to kick someone out in the middle of an extremely harsh midwest winter, which i've read is a terrible time for finding new tenants.

After the chemical, a powder, is applied it takes 2-3 days for a complete kill.  

Cancer causing chemicals"?

No chemicals, no labor!

I've been messing around with getting averages of rents in different areas then dividing by 1.3%-1.6%(The rule of 2 seemed pretty harsh) and using the resultant number to estimate a worthy price.

I also want to do the 3 month inspections as well due to the harsh Montana winters to ensure there are no leaks, etc. 

Some of the responses are harsh, but they are eye opening.

Kris,  not to be harsh but sounds like you didn't follow the systems experienced landlords develop to reduce their risk.The walkthrough checklist and pictures before move in and after (for any damaged items), collecting keys, and addressing any damage with the tenant on move out day is Standard Operating Procedure.  

Both new and seasoned investors can gain wisdom from the harsh experiences of others.

May sound harsh, but I believe that this is the attitude and actions that it will take to be successful.