And if one isn't careful, they can end up in some legal issues and money issues if they don't have a professional holding their hand through the transaction.

A bit of background on me - I'm a CPA and have worked in the field for over 10 years. 

@Nick ThurstonDo you have a background in sales or real estate?

Ya you'll find that a lot of lawyers and other professionals will be clueless on real estate.All you need is 1) A rental agreement - you can find these usually pre-made in your city.

Honey bees need a professional exterminator co.

Anything other than criminal background checks, credit checks, eviction and court records, employment history and rental histories. 

My husband and I are looking for recommendations for sites that do the tenant background screenings for you (criminal history, evictions, debt in collection, etc...).

The site is treasure trove of hand on experience and also many professionals to get where your real estate goals are.

Certainly the margins are decreasing due to both increased government regulation and market saturation.But professionals like Neil Collins here in Portland, who self-manage effectively, and can deal with government wonkage effectively still have profitable margins.  

Here are some background information to help with his questions.