We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

No amount of insurance covers the personal loss.2.

Maybe even offer to cover some closing costs to sweeten the deal if they’re stuck on a higher price.

Hostfully seems like it will cover the basics we need, plus it has some unique features that others didn’t offer.

IF you plan on going back someday, and this is the home you want to move back to, then renting it would be a good idea as long as you estimate that it will cover itself, or preferably, cash flow, which it appears that yours will at @ $2K or so per month (after expenses). 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I often have tenants who don't pay the last month's rent because they think the security deposit will cover what is owed. 

They will try to cover that up by saying they have some minor role in the general partnership. 

If I rent it out and the rent monthly payment let's say covers the mortgage and HOA, the cash on cash return will be $40K(appreciation)/($ 42K (Down payment) = 95% and it will be 1.95 to find the cubit root and it is about 25% yearly return on my initial investment. 

And, voilà, you have your own guide.Problem is what they'll likely want to know will probably be basic and already covered by those guides.