With that being said we tend to see a lot of CA buyers relocate here for the lower cost of living including lower home values, property taxes, insurance, no state income tax, gas prices etc.

My partner and I keep an excel spreadsheet of rent, our purchases, utilities, taxes, insurance, and money spent on contractors.

Questions they will have is who is the owner, what experience do they have, is their key person insurance against them etc. 

What about maintenance, taxes, insurance, or setting aside funds for capex?

Though I'm in sure what the trends have been in TN over the last couple years.

Mgt, Landscape/Snow, tax, insurance, utility then debt service. 

Property taxes are 650, insurance 160, outsourced property management takes 10% of the rent, and another 10% of the rent is set aside each month for future repairs. 3750 x 0.8 = 3000. $3000 profit, minus about $2300 in mortgage, property taxes and insurance leaves about $700 cashflow, when I move out.

If people get debt it's better to often have 10 year fixed debt you just have to watch out for yield maintenance or defeasance for insurance companies or CMBS type debt.

There are fees associated with going to Real Estate school, obtaining your license, joining the board and MLS for your area, getting proper E&O insurance and so forth. 

Absolutely use their payment processor and insurance and don't allow cancellations.