They used potential rents instead of actual rents. 

And when I do get licensed is it just a test online similar to drivers license test or do I actually need to go somewhere like a school?

Most of the families I placed in my time doing furnished leasing were actually locals who were either in between buying and selling a home, or doing some remodeling on their property.How much are you currently getting per month for that property on a 12mo. unfurnished lease?

That area might actually be underwater, there huge flooding in 32210.2.

We'd like to fix up the unit and increase the rent and actually screen/find a good tenant as best we can.

This was something I thought I understood pretty well, until we actually started talking about going about doing it lol. 

Actually already have it...

It'll actually give you some ideas as well.

Yes, it is a college town.My original thought was to do college housing, but the city actually as a policy about no more than 3 unrelated adults living in one house.

Since we were new we made some mistakes, but fortunately the interest rates dropped and we were able to lower our payments and then we didn't realize how much rent we could actually get here in San Diego.