But I’d give the required notice, maybe even an extra 30 days and raise it to market rent for the condition, probably another 75-100 a month. 

and or check for little improvement that might help you increase a bit the rent. like $10-$35 extra.

Better luck and better prospect with Marriott and Hilton brands, to get some good management companies - ultimately costing you 20% or more of the gross - when you add their extra-expenses of over staffing and unwanted maintenance and repairs bills, and, using their unused-resources to bill "your property" for services etc.

House 1 you say is move in read, so if you plan to offer $42K, where does the extra $5-10K invested come from to get $47-52K?

Then if they are rented out, that extra bath and garage may not matter."

I put extra each month on the highest interest student loan, but save most cash for the rentals.

No industry accepted rule, mine earn around 3x the long term rate so it’s really a no brainer to do them as a str. if the rate of return on a long term vs short term isn’t much difference percentage wise then i’d definitely just do LTR. 

@Travis Washington I dont know the rental comps there but if you do choose to add the fence, you can target different markets such as pet owners who would be willing to pay extra for the fence for their dogs plus you can charge a pet fee.

If so, why should you get the extra hourly PLUS a larger percentage of the profits? 

Vacant policies also generally have a 100% minimum earned premium on the 3 month policies.