It is hard and will be a full time time job to do it right. 

In this post, I'll talk about key care-abouts and tasks once you sign the contract and are into the due dilligence period:1.

Family committments can be pink (or whatever color), money making tasks (green), follow up for leads/lead generation (yellow).If it's on my calendar, it exists.

To tackle this, I brought in a VA who now manages this task for me, as it was consuming too much of my time.

Or you could end up spending more time than just doing the work yourself. 

@Byoung Bae  There are full-service turnkey solutions; just keep looking.

The land purchase will be one of the biggest tasks of your project.

I started using both at the same time and found AirBnb to be far more user friendly with less clicks/swipes needed for any task.

Unless you are hurting bad for a tenant, I would say no right off the bat, it sucks going some time without a tenant, but it sucks even worse when you cant get them out of the house and then they destroy it.

I did this because it was an easy way to save money after I bought the place, but now I'm stuck with the renter's furniture choices, and he would have a hard time moving out because he has so much stuff.Finally - if you plan on moving, then you may want to let the renter know that.