I would do at least 12 months, and consider buying a basic furniture package from a furniture store. Also, plan to provide basic landscaping services. The best way to protect yourself is to screen your tenants and find one who has a good rental track record and who will respect your property. A standard lease will do. But, when I was a landlord, I always had a late penalty fee of about 5 percent after the 10th of the month. Good luck.
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