A lot also has to do with the size  and growth of the bank.

If you have a little more money ask about having them screened.  

Know this, even though a tenant comes from another agent, you or your property manager should absolutely do the background checks, credit screening and rental history checking.

Beware of their applications and all their screens, because they don't use SSL and score a 0 (zero) on my 'are you serious?'

Technically if you have a decent sized upstairs you can turn your basement into one with a small amount of plumbing and electrical work.  

Why don't you just use a regular tenant screening service?

@Ben Leybovich already stalks me on the phone and I can't imagine the torture of his ugly mug popping up on my screen every 30 seconds...not to mention that it might make @Brandon Turner jealous.  

age, location, size, and cost of replacement are all major factors for insurance, unfortuantely your purchase price doesn't matter too much!

If I can make the lot rent and the monthly cost of the home close to what people pay for a similarly sized rental then its an attractive deal for many.

The land is a decent size.