We also have Fresno State University one of the largest universities on the valley floor besides UC Merced which is about a 45min drive north of fresno. if your going with a buy/hold strategy this area would be perfect - It took less than 24hrs to get a hit when I listed my SFH for rent actually MULTIPLE hits and 5 clients went through the screening process which took about 1week then narrowed it down to one - Now cash flowing a little above the 1% rule

If you're in a location lacking good property management, I would recommend using a property management software that can help with screening tenants, managing maintenance requests, etc.

- PM rates vary per area. 10% is average but other locations are either higher/lower or may even be a flat fee.As long your solid on all of the above (Which by no means is a complete list) and the cash flow is something you are comfortable with (everyone is different) then it's up to you to decide if it's worth continuing down the path of this deal or finding another.

Be sure to ask for the rental income records; AirBnb gives a screen shot that makes it very easy to know what you're buying. 

A few more things to consider: unique/new liability concerns, roommate mediation issues, juggling multiple sub-leases, utilities, allowing tenants to screen/vet/choose their roommates, etc.

Going through method for every property will take time to screen and not very time efficient.

@Gray HallThe section 8 office by me will not allow flat rates of any kind,  it would work for non-section 8 tenants.

I would then review the cost break down, explaining how closing fees worked (commission fee, transfer fee, title fee, loan, lien and tax payoff etc)Then I would list the property in the MLS with the normal procuring fee of 3.5% (flat fee $2,870 and keep the rest of the flat fee (with my broker of course), the remaining $6,970.I don't feel this is unethical (in concept) for several reasons. 1.)

I would scrape the popcorn ceiling, so it is flat and go from there. 

The way the commission works is if the agent sells it they get whatever commission was agreed-upon and if the owner sells it they can pay the agent a flat fee to manage and help with the paperwork.