Whatever you do, screen the tenants well.

Screening your tenants properly is the best way to hedge your risk of having troublesome tenants (see the BP blog post, which is gospel) and carrying ample insurance in case someone gets hurt on your property is equally important.We currently use LLCs (no trusts) for our rentals and each rehab/new construction project.  

You pre-screen and eliminate low income tenants by phone or email and they never set foot in the rental or get an application.

Screening is essential; if a tenant seems too good to be true they won't stay long, we have the best luck with people who already have roots in that neighborhood.  

You could see how they market, how they screen the lead, how they know what lead to pursue, how they talk to sellers, how they negotiate with sellers and buyers, how they built their list of real buyers, how they have a relationship with title companies/closing attorneys, see how they build relationships with realtors, contractors and other professionals, see how they do the paperwork, how to handle problems when they come up, how to know what leads that are a no for now, but they know that one they should follow up with a month, or so, later and everything else that goes with the business.

On the supply side, you will eventually see flakes of rust and particulate in the screens on faucets.  

You will also see opportunities that won't show up on an excel spread sheet or computer screen. 

It is much cheaper to do a "screen and recoat" of an existing sound surface that it is to actually refinish the floors.  

I did it on my iPhone and the screen was making it tough to write.

I used smart move for our tenant screening and it was super easy for me as well.