EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I am quite surprised by some of the prices in your post, since i'm familiar with the upstate market.

I guess I'm kinda surprised because it seems to good to be true.

I would  be very surprised if the IRS did not challenge this specific fact pattern.  

You probably need to be a bit more conservative on that 75% rent estimate; the usual figure bandied about here is 50% net because of the extra little and/or unexpected expenses that can really add up.  

Given a certain 'bias' posting in a real estate forum, I'm not surprised at everyone's preference to real estate-related investments. 

She provided me a SSN, references, and I did a credit check on her which was surprisingly good.

When we had this situation (really nice tenant who had an unexpected employment change), we advertised immediately, and stated in the ad that a candidate with a flexible move-in date was preferable, e.g. between March 1 and April 15 (our dates were actually between Mid-August and late September). 

Another company offered to insure with fuses but would only provide actual cost insurance and with an annual premium that would be a couple hundred more.I was able to have the fuses replaced with circuit breakers for around $600-$700, which i think is surprisingly low.

There will be surprises, no doubt - but make sure That you are in your Rigorous management of all aspects of the project or That your contractor or project manager is on top of each and every detail Depending on the scope of work, Should your rehab project last between 3 to 6 months.