Find a PM who is strict and can teach the tenants proper behavior. 

In my experience, most landlords do not charge a sufficient enough late fee to discourage bad behavior.  

Tenants are on their best behavior before they get the keys.

Accurate comps are hard to find, and scams and bad behavior abound.

Turn on, go here, enter data here and here, then compute here, then the answer is displayed. 

The other part of it is that human behavior is largely controlled by 2 emotions: one of which is fear.

Felony record, keep on walking, eviction on your credit record already, keep on walking, having a proper job with verifiable pay slips, these things all matter.And yes you can rent to lower income people, we do it all the time, and for the most part they are good people, despite what some people say on BP, but no matter how much I like you, I will still screen you, I will look at your credit record, and I am interested in felony records.People will be on their best behavior when you first meet them.

My plan isn't just to quit and start doing REI, but I wanted to start out as a real estate agent while learning the ins and outs of the area and get an idea of the market/buyer behaviors.  

Give you the wherewithal to pursue and achieve your long-term goalsMany investors start off "too hot", and they either overdevelop their first property or they spend their money too fast: either of these behaviors will stop you dead in your tracks, and you probably won't even be able to achieve your short-term goals - and you certainly won't have the resources to pursue your long-term goals.

Our agreement wording is:After additional deductions for cleaning and repairs necessary to restore the premises to its original condition (less allowance for reasonable wear and tear), along with deductions for any rent due (including rent loss during periods of restoration), late fee, caused inspection/eviction, utility, notice, legal and any breach of contract costs, the balance of the security fee shall be refunded pro rata as follows: 10% of the remaining balance for up to one month of occupancy; 20% for two months, 30% for 3 months, 40% for 4 months, 50% for 5 months, …and so forth until 100% for 10 months or more of occupancy.We also look for applicants who have demonstrated by past behavior that they are capable at staying at an address for some length of time; one year minimum, more is better.