My S/O brought that same idea up.

This saves all of you a lot of time and trouble.Your idea of an open house is a good one depending on the market.

Any idea?

Just to give you an idea of the market. 

The rent will need to be a 'fair-market' rent, i.e. is it equivalent to what a non-related party would pay, or a similar rate as other SFR's in the area are charging.Additionally, for further proof of intent as an investment, it is never a bad idea to have a lease agreement with your tenant, whomever they may be.

I like the idea of investing out of state (need to get that BP book!)

Hi S L Martinez,Unfortunately for you, I'm also a newbie and I'm excited about your idea.

@Joe Hines that's not a bad idea, but there's some more upfront costs to marketing.

Since we are buying AFTER the school season has started we know vacancy will be a challenge until next school year and are hoping to get some leasing for spring semester, but have entertained the idea of AirBnB, but the following questions have stopped me from pursuing it:The purchasing/transportation/assembly of furnitureThings will likely get ruined (sheets, dishes, furniture) will my cleaning lady/house mom really be willing to go out and buy these things and replace them?

I liked the idea of having a local firm, especially since I'll need a property manager as well.