It depends on location, the quality of your renovation, price point..... 

What qualities are the most important, and what are your expectations for the individual. 

@Laura Yates I would mostly agree, but still be sure to vet the quality of the HOA.

You will too.Buy quality, 3/2's nice area close to transportation in ok blue collar areas and you will always have demand from renters. 

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Alternative: Rollover Funds to A Solo 401k & Take a 401k loan or Invest in Real Estate DirectlyIf you are self-employed (i.e. active self-employment earned income separate from your w-2 income) with no full-time w-2 employees, you can set up a Solo 401k and then rollover your 401k funds once you leave your current job [NOTE: You generally can't rollover funds that you saved to your current employer plan until you quit.].You could then take a loan of up to 50% of the balance not to exceed $50,000.

Quality usually costs more.

Also, should Craigslist be the main forum for advertising the vacant rooms or are their other platforms people have used in the past that have yielded quality tenants?

Negative rental history, eviction, or outstanding monies owed to a previous landlord are unacceptable.

I'm hoping to do more PPC and eventually get quality SEO management but i'm not sure if i can afford it. 

Another challenge area is finding quality tenants, in particular during the winter months.