Note any differences, because prospective tenants certainly will.What I'm getting at is the low rent and higher rent properties may not be an apples to apples comparison,and to get the same rent it's more likely if they are very similar.That plus the current low rent tenants may not be able to handle a huge bump like that, so you will need new higher earning tenants.Good Luck!

Set up orkin to handle everything for $300/yr.

In my area that gets handled daily with "boundary line agreements".

Real estate closings are handled by attorneys in Nc.there is demand for a mobil notary service though  

If you don’t want to be as active in your property’s management (i.e. you’re not cut out for “by owner” management), then hire a good property manager to handle the nitty-gritty details like prepping the home for the next tenant. 

I wouldn't mind just paying someone to sign the permit, and then handling everything myself to be honest.

I totally understand that real estate is not a passive investment, I've worked exclusively in the multi-family real estate world for the last 10 years and I would be the one findings deals and handling the day to day  Unfortunately, they are old school and don't talk about finances with the kids.

When things go wrong, in the case of an owner-occupant losing employment or having some other financially distressful event, how will this be handled?

Do you homework, make sure you can handle potential vacancy, and go for it.

I use an an eviction company to handle everything so it's done right.