(If I did this I'd be quite selective - grad students only type deal)Is it feasable to set one up on a lot in the city with utilities, but with no house?

Do yo only show a couple of selected buyers that you prescreen thoroughly?

Your 10% is probably closer than the 5% you idenified, the other 5% taken by eviction expenses and collection losses.Getting blood out of a turnip will vary with each landlord's ability to deal with people, how tenants are selected as well as economic conditions in a local area.

The signs can be up to 4' high and about 3' wide, which is a lot of space. 

Those plants can grow up to 5-6' tall and be 3' wide.

The bedrooms upstairs had painted wide plank pine floors.  

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I would tell the tenant that he is approved (but in this case I'd flat out reject) but I will continue to show the property and reserve the right to select a different applicant until I receive a non-refundable deposit (the security deposit) to hold the property. 

One should seek legal advice when making a decision to enter into a contract of any kind.Any serious buyer should carefully select an agent to represent their own best interest. 

Connerton has insanely wide sidewalks (I could drive my SUV on it with ease, it's that wide) in the neighborhood and great parks for the kids (think zip line) and a mini water park at the community pool.