I would look at the value of the rentals before you make a decision to see if that makes sense for you.Regarding the furnishings, if you have to pay more for them (again here in FL, properties are generally listed fully furnished and you don't really get a discount to tell people to take the crap out - in fact, I had one guy refuse a good offer because one of my conditions was for them to take their crap!  

I'm a pretty big advocate for the south side of chicago where you can find properties half that value and cashflow really really well in turnkey condition. 

Hello Kyle,When screening applications for the properties that I manage, I always look for:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)I have found this screening standard very helpful when finding tenants who pay on time and treat the property well!

Which isn't necessarily terrible except the corporate offices for the DG/FDs of the world only looked at the bottom line numbers, didn't care about the condition/quality of the workplace, and most stores are not in great shape. 

This provides an international/affluent tourist pool whom are extremely unlikely to disappear regardless of local economic conditions.

I don't really want to invest in a D-class area.Tangentially, what are some of your "it's time to sell this property" red lines when it comes to the changing economic conditions of an area? 

My condition was that they rent the house for 1% of the costs and sign a 3 year lease.

The rest of the home was kept in good condition for resale.

If you keep it as an investment property, a lot may depend on your location and condition.

The rest of the home was kept in good condition for resale.