In addition to Turbo Tenant, I would suggest that you have a local Realtor list it for rent. 

When it comes to housing, the FHA rules apply in addition to those of your state/city.

Additionally, some states hold Escrow and Title services differently. 

Eliminate debt, establish a budget, and save.

We're fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

I don't have time to keep going back and forth here; you are welcome to contact me directly for additional details.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Additionally, involve a real estate attorney to ensure the transaction aligns with legal requirements and protects both parties’ interests.

Or buy and force appreciation or buy and paydown debt with cash flow..

I was interested in something like owning a rental property as a way to generate some additional income.