Well, as I get older, more and more I catch myself checking my closet at night for signs of the broke-y man.

I'm worried that it would be difficult to find a good selection of tenants in such small town.

I use 10% for management, but have had clients pay everything from 16% (10% plus 1 months rent every lease signing) to a flat $50 / month.The real questions - what value add opportunities are there?

You got past the first big hurtle in real estate investment, Chad, and that is signing up and reaching out in BiggerPockets.

So this is only if you sign up for annual right?

You just took a giant leap in the right direction; signing up on Bigger Pockets!

The main idea is to select one niche which seems like you did: invest in residential multi-family (2-4 units) and stick to it until you're fully comfortable in this field.

@James Park - Nashville has been exploding for a couple years and shows no sign of stopping.

Here are the options I'm currently booting around while I wait to close.1. sign all tenants who are currently under a month to month with a 3 month lease to let all my funds and the "new owner" feeling settle in with the tenantsa. update common areas like the halls, stairs, paint etc which will give "reason" to the upcoming rent raisesb. at the end of the 3 months raise the rents on those who need it most in hopes of either they leave or if they stay they're paying at least close to avg rents for the area if not the equivalent of the avg rents.c. as they move out update, raise the rents for the next tenants.2. 

Should I just edit and re-print the lease with updated info (LLC) / payment instructions and have them re-sign and return?