Before you invest, like other people have said make sure its a true rental property. That means a yard (front and back if applicable) that is pretty much unkillable. Even if you have automatic sprinklers they'll somehow get turned off/malfunction/get eaten by a kid or dog.

Also, make sure all your appliances/carpet/cabinets/toilets/floors are easily replaced, this will mean keeping extra in stock if you can get a good deal. Its pretty unreal how people can break shit, but they will and most likely often.

Add in extra charges for animals and kids. It doesn't have to be much but an additional $25 a month can be the difference between breaking even and being in the whole poop on the floor.

I am against property managers if you only have 1 property. The goal of a property manager or their company is to get renters in regardless of their.... qualities. Which means you could end up with a family from hell that destroys everything.

Finding renters is a tricky business. Other than a credit check, another telltale sign is the state of the people's cars (and how many). I'd honestly set up more than one appointment with a prospective tenant to make sure they are legitimate as well as giving you a feel for the process as you look for renters.