What would be most helpful for me would be to get into the numbers...and to hear what kind of returns (on equity...but maybe also ROA) would be considered 'decent', 'mediocre', or 'great' at this type of scale..

Most state residential forms promulgated by the NAR or that state association of realtors have that boilerplate type of language.

I told my wife I am glad we dont need these deals to live these are very tough times for agents in these type of markets..

Looking to put some type of plan in place.

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@Adam Fansler I’d raise rent some, see if they want to be the onsite de facto PM type person like mentioned.  

They focus a lot on working with investors and have experience with the type of homes in the Midland/Odessa area.

Of course I don't want a back and forth auction type of scenario.  

What type property is it? 

If they trash your unit you have judicial remedies even if you are required to return the security deposit but it will take time, money, and you will probably never recover damages from people who would do that type of thing.