Vet your tenants thoroughly before giving them the lease.

Every system you try will have flaws, or you may salivate over a feature that appears in other software.Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.I recommend conducting thorough research on each app online to understand their offerings, pricing, etc.

I have also been told in person by an individual that is a licensed Realtor that it is +- 600 sq ft.Can someone give a thorough explanation on the rules to finding comps?

Conversely, rushing into deals without thorough due diligence is something I would avoid.

The replies above are really thorough and helpful.

Conversely, rushing into deals without thorough due diligence is something I would avoid.

Provide thorough details on what amenities you offer and how to use them, check-in/check-out instructions, etc. 

There will be unexpected costs that come up, so make sure you give a little cushion in your budgeting for that. 5) Screening- Have a thorough and standardized screening process.

You can get a great tenant with the help of a thorough broker without committing to property management.I agree with @Joe Scaparra, selling is a very sensible option. 

You will need to conduct some thorough market analysis.