I work for a Property Management company and have done it for years so I am not a rookie. 

I can tell you hitting the $500 + monthly on seems very rare these days for now. even if guaranteed what is the likely hood it will continue once the lease is up.Right now we are "all in" on Southwest Fl.

I’d submit for consideration- buyers who won those bids in 2017 2018 2019 and very happy they did and the prices have continued to go up.

I have started a property management LLC company to manage these properties for myself and hope to grow that business as well. 

I wanted to introduce myself and my company, Handy Central, to everyone. 

A lot of the things a mortgage company requires is to protect their financial interests (and subsequently protect you also)....getting title insurance, a survey, an assessment/inspection, and requiring home owner's insurance. 

If this doesn't bother you, continue as planned. 

Somewhat agree, I do think there are a ton of bad PM companies out there.As a prior renter, I’ve seen my fair share of them too.  

Next lure in novice investors with promises they can replicate your success with little or no money when in actuality all you have to do is teach them how to buy low barrier single family homes and they will be appreciative because they don’t know any better :) All jokes aside, if you want to mentor/ coach obtain a real estate license and help investors purchase investment properties as you continue to learn the business.

If you aren't doing this with an LLC or other company, then the money is "still all yours" - you can freely do as you please with those funds (once the rents accrue enough for you to have a comfort level).I would suggest you contact a good accountant (CPA) knowledgeable in real estate matters to assist you with starting up your accounting system for this rental.