Has anyone tried to utilize a rental property mangement company for this purpose?

@Josiah Kay tenants pay all utilities.

Some states allow text messages or emails as notice.What the landlord can do though, is as soon as your friend signs the lease for a month extension, the landlord can then send him the notice right after.

Yes, I agree with the SF comment, for me they are asking way far from what what is really worth perhaps betting on the potential of the lot (huge patio around the house) that easily accomodate an extra room extension for example.

To best identify true value, I would look on the MLS or utilize an agent to pull comps for current condition and ARV comps. 

I'm a big believer in direct bookings but you'll need to utilize the existing marketplaces first to gain traction then invest in your own site.

It is better to price out the things you will know in advance like insurance, property taxes, management, utilities etc. and use a much smaller percentage for unpredictable things like repairs.

Where should I go to get the tenant/landlord forms that are needed to start out (lease, extensions, etc.).   

Purchase price: $197,500FHA 3.5% down: $7,000Mortgage, taxes, Insurance: $1,5352 Bedroom rent: $1,1001 Bedroom which I'll live in for a year but could rent for $850Barber shop in building: $650The only thing I pay for is heating which was $2,000 total for last year the rest of utilities or paid by tenants.My question here is with me owner occupying I will clear $215 but once I move out I will clear $1,065.

Utilities ?