Managing a rental (even if it cash flows) comes with responsibilities, and it might not be worth it for $300 a month.

Practical Tips for Managing PropertiesFinding Good Tenants: Screen thoroughly.

Reach out to Lisa Loesel at Short & Suite Management here in Milwaukee. 

The key is building a reliable local team—property managers, realtors, and contractors you trust.

It also includes managing your existing investment well to ensure you aren't bleeding money due to bad tenants, excess maintenance, etc. 

It would also be much easier to manage considering you are currently living in Arlington.

This is a question for your attorney and accountant on how you will manage the company etc.

As a management company, we also have a duty to get a property occupied with a qualified resident as soon as possible and sometimes that means adjusting rents down for right now to generate revenue.  

Quote from @LaShon Evans: I manage 400 rentals and own 33.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.