@Guy Gimenez  care to share what kind of clause can be put in an assignment agreement that forces the end buyer to answer your calls and be responsive to your attempts to connect with them prior to closing?

@Jason Smith Define your market, set your rental criteria, write down your tenant screening questions and be consistent in what you ask each applicant, put in place a good rental agreement/lease contract, and then cover all your bases with good property management.

What I learned is that you really do need solid local knowledge and information.I'll put in a plug for a couple of the local Memphis guys.  

-101 room economy brand hotel that was built in 89 -Was purchased in 2011 out of foreclosure for 1MM and they have put in upgrades of around 700k along with implementing the current brand and reopening the hotel. -30 minutes from DT Cincinnati and sits on 4 acres right off a major highway with excellent visibility in a growing suburb.

Knowing the area, I don't feel it would be too hard to achieve max occupancy, the owner told me he just put in every other lot because he didn't like it to look crowded.

I could always hold back money on the security deposit I guess but would rather put in the most durable appliance to begin with I think.

You can also put in new piers/post next to them and remove the jacks.

One comment I have seen is to put in the lease they must have renters insurance.

I would be fine with dropping it off at a office, however for me I have tenants in two different towns and it's a 30m drive between them (meaning 1hr round trip) which can kind of make it difficult for a tenant to do.I'm still leaning towards sending monthly invoices showing them what the rent is, due date, ect so that what they pay/when they pay is put in front of them every single month.

Not the tenants; they sat and watched TV while Bill and I did the work (even had to bring out own light bulbs as this family tended to save money by never replacing burned out light bulbs).When the unit failed again (because they failed to put in new batteries I left for the smoke detector) we said that's it; we're outta the Section 8 program.