Get up to speed on contracts and local rules and regulations (for instance are you able to do short term Airbnb rental or does it have to be long term), other areas also require inspection. From there I would focus on getting up to speed on contracts and a platform that can track all your income/expenses. I use Baselane and it has made financial management for my properties so much easier plus it handles all rent collection etc. and it's high yeild savings rate! It also makes taxes much easier. Finally do your diligence when selecting a renter. Trust the data you see (income, employment history, etc) but also your gut, do you feel good about that person? Getting the right renter makes a huge difference!