Get to your local RE meet up.

what companies did you look at?

Review your money, talk to local agents, and learn from investors and managers.

We are the buyers and it is being sold by a relocation company.

You're going to want to find a local attorney to put together or provide the paperwork to make it legally binding if they do. 

The title company is charging a 5% escrow fee.

@Chelsea Yanc 1) Find a rental application & lease that complies with all state and local laws2) Figure out a screening process, including pulling credit reports.

You have no control over your own property if you allow a new property management company to choose your first tenant when you only have one property.Know the costs of every call, handyman, etc in advance.

I usually have the title company create the NOTE for me with their generic programs, but looking for something a little better or more professional.  

Look for mentors by reaching out to people in the real estate field, at local gatherings, REI groups, and on Bigger Pockets forums.