Just know there there is no "iron clad aggreement" when it comes to renting. The tenant always has the upper hand. There are very clear laws that protect tenants from eviction and collection of rents owed. Just know, that in most every case, the tenant will be given the benefit of the doubt if you should need to evict. The eviction process is a very slow one, that can take up to 90 days to remove a tenant that has not paid rent from your proporty. Even then, the judge in most cases will grant payment extentions if they house is not being damaged. The wrong tenant can be hell to get out.
I had 6 houses at one time with my brother. It was ok, but a shit load of work. We made money on the deal, but we had out share of bad tenants. Some were really nice people and at times had good reason for not being able to pay. Shit happens.
All I can say is that its not an easy way to make a buck.
