If you're asking me, I'd say a few hundred bucks, maybe $500-600 tops, especially if "selective" means someone you have a level of social investment in. Friend, family, etc. Or if you'd *like* to socially invest in the tenant.
If "selective" means total and perpetual stranger with reputable character, and you want maximum returns without being a total jew about it, I'd say $700-800 tops.
My wife and I decided against rental houses. Instead build long term RV parking on our land. But being selective on who.
If "selective" means total and perpetual stranger with reputable character, and you want maximum returns without being a total jew about it, I'd say $700-800 tops.