My plan was to take my sale proceeds and buy a number of cheaper properties in less competitive markets, but if I could keep the home in MN and make competitive returns it would be a no-brainer to keep it, assuming it doesn't become another full-time job.My hope is to gain some perspective as to whether this is a good idea or not - and rather than a "yes" or "no", I'd love to hear your perspectives on how to model it out for myself.

Since the house that I got under contract is a burnt house and needed way to much work I'm looking house that need 20-50k of rehab, and I decided to find my own deals by finding really motivated sellers since theres a lot of competition on MLS and other wholesalers bring me deals that aren't any good so I'm looking own.

So far I have not received and applicants. https://www.trulia.com/rental/4036759641-534-Atkin...I believe I have priced my house competitively.

Also is the price truly competitive with others in the area? 

If you spend on quality, cleanliness and a wow factor you should price accordingly but also competitively on the high end of the market if you're investing for the long term. 

The greatest part about this is that I have less competition!

At the smaller end (ie <500 units managed) it seems like a competitive, low-margin business where you are essentially buying yourself a job.  

Qualify your "investors" as it could potentially result in a lot of busy work and preparing offers that simply aren't competitive/realistic.

Nothing does this more than to have other qualified renters looking around the apartment the same time they are.You can say other people are interested in the apartment, but nothing hits home more than the competition they feel in that moment in a group showing. 

I was asking him about the process of finding housing for the girls and he said it was very competitive and the houses filled up very fast, well before the next semester started.