@Thomas Condon and @David Morgan There are many questions to be asked and directions to approach this and to take this for a simple answer.

Simple rentals take 20-30 years to bear Fruit. @5 year ago prices, maybe.

It's a simple form used to document the terms of the lease with the Buyer, Seller, and Tenant all agreeing so there's no misunderstanding. 

I have been learning by listening to podcasts, watching youtube videos, and reading books and blog posts (the BiggerPockets web site has good specific recommendations).

Always great to see another South Carolinian on the site.

Keep it simple, and keep interest out of it if possible. i.e. 200,000 purchase price, 10 grand down and 100 payments of $2k.

Proper management infrastructure involves pay roll personnel on-site, with strategy/accounting/reporting/legal off-site. 

(Before the auction)Location: Bayou City Event Center 9401 Knight Road, Houston, TX 77045The Harris County Engineering Department and City of Houston Floodplain Management Office will be offering a short presentation to assist bidders in understanding potential issues with sites located within the floodplain.If you are unsure of the potential challenges that go along with purchasing property in the floodplain, come to this informative session to get answers.The presentation will be followed by a Question and Answer period.Topics include: How to Determine the Floodplain Status of a PropertyWhat Jurisdiction the Property Lies WithinFloodplain Management Rules for Unincorporated Harris County

It covers the house plus all the materials on site.

So if  you find someone who is trustworthy and can make the process simple maybe that's worth a couple of bucks somewhere.