I rented a furnished home in Las Vegas, NV, to a fully screened tenant.  I used the standard Nevada Residential Lease Agreement from the Greater Las Vegas Association of Realtors. I had to add an addendum for the home...

@Michael VelezHouse hacking is a great way to start investing, as it helps you reduce living expenses while building equity.

By understanding the local market and organizing a strong support network, you will unlock varied opportunities for growth and long-run success.If you’re interested in learning more about how to get started or want to discuss specific opportunities in Phoenix, feel free to reach out to local experts or explore educational resources tailored to this market.How many foreclosures are there today vs 2010 or historical average in Maricopa county? 

Another way to look at this is......1) figure out what you want to make as a net profit, 2) Do a quick check to see if this is within local averages, 3) Set your pricing at that higher rate, but keep your occupancy lower.You make the same money with less effort or risk...This might not work everywhere, but it's certainly worth a try.

@Jordan Miller - I think to give proper guidance it would be good to share more details on the revenues and expenses on the property.

I’m especially interested in learning from those with experience in more expensive housing markets and from people who used really estate as a way to invest for their kids' colleges.

The scope of what I would do was far beyond, and a LOT more expensive than what they were thinking. 

That could come close to covering expenses.

Electric heat can be very expensive in the winter so I would always encourage landlords to have tenants pay utilities so they have some incentive to conserve.

It shows me the average price of booked vs unbooked properties from my completion that I can choose.