don't be afraid of better markets in ohio like columbus. depending on the capital allocation buying old houses and having to renovate is not the only way to drive value. build rent refinance repeat and build to rent are both very strong market drivers as well and you can traditionally get infill land in areas like columbus in much better locations than where you buy.

Second I would like to ask is are there any suggested contracts that are better than others for both the landlord as well as contracts that I should use for my sublease? 

Well, what would be happening is that your buyer would be buying your house subject to the existing note, since you can't legally sell the property without paying off that note or transferring the debt to the new buyer.

Ryan, I appreciate your insight as well.

Id like to enjoy another stream of income to eventually phase out my day job, so that I can focus on acquiring commercial properties as well as a business or 3.  

If you can get a waiver of subrogation as well you will be all set.

I also assume you’re investing in an area with increasing rents so look at 3-5 years out with increased rents an it better cashflow well if rent isn’t stagnant. 

That said, I’d encourage you to take a look at Memphis, TN as well.

Well in that case - the tenant paid rent portion is $2600 and therefore is above the $2500 cutoff / not Mission Driven. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.