Hiring a professional management company, while more expensive per month will likely provide you less of a headache, but you will pay for that convenience.

Again - I do not believe you will see this as your expenses are way understated and you will NOT be left with 9.6K.From your responses, it does NOT appear that your have any reserves in the event that a tenant moves out earlier then you expect or you get surprised by a major repair.

Wow, in the hottest apartment market America has ever seen, I'm surprised it's a problem.

So I've never gotten deals off M&H and way way back got one off hubzu.I've bought maybe 12 deals off auction.com REO / bank owned/ auction.com calls them "on line auctions" fewer to no surprise fees on auction.com.   

I did some research on Orange recently and I was pleasantly surprised.  

You need to consider the money you're going to lose for holding costs, property taxes, HOA fees, utilities, insurance, any surprise maintenance expenses that may arise.  

I think you will be surprised as to how many do have smartphones. 

You can get a realtor to send you MLS listings using filter criteria.However, I would apply the full millage against the price you plan to offer (to get an estimate of your future tax bills) so you don't get surprised with a new increased tax bill the following year.

Even if you choose to manage the property yourself, you should still account for the costs (e.g. gas, time, etc.) associated with it.As a landlord, you can expect to encounter your share of surprises, but there is no need for expenses to be one of them.

I am wondering if I should hold it for a while in rent it out for a few years before selling to combat any surprises with the appraisal.