First thing I would do is double check what "market rates" really are because if you're wrong even a little you'll have an empty building on your hands.

Also, as another poster mentioned, your local Housing Authority and various Social Services organizations if you really want to deal with subsidized housing.I limit paid advertising to the ONE local newspaper that has the largest readership and/or hands down the most rental ads.

Hello Ed,Let me be the first to extend a hand to you.

Learn it like the back of your hand.

You might find it a bit useful.Otherwise, as Equitydeals said, you need to do your DD before leaving such a large investment in the hands of someone you don't know.

For instance, let's say you like computers, then maybe you want to focus on real estate online marketing or web design.....or you like working with you hands, you might want to get into rehabs....or you don't like dealing with buyers, you might want to become a listing/selling agent only....and so on/so forth.

Then plan a way to generate or buy the required leads i.e. phone duty, open houses, running adds, bandit signs, flyer drops, cold calling fsbos, handing out cards to everyone you meet ect.....Then eat, sleep and breath real estate and you should hit your goal.

Pay all the fees involved to everyone that wants to put a hand in your pocket.

I know the loan may not be of interest if you are planning to sell anytime soon.As to the question at hand, If you can get 85-90% of the mortgage payment paid by the tenants, should lessen the total amount you paid for the house because for 25 years or so you are only paying 100 bucks a month out of your pocket instead of the orginal $2500 before the house was rented.Good Luck with the problem.

Its not like I'm trying to get rich quick but getting some cash into my hands quicker than say 3-12mos. sounds descent.