I want to share a few things I have learned from my first rental property. 

1. Be picky with your tenants. This will make or break your experience with renting out a property.
2. Limit the contract time. This will allow you to raise rent prices accordingly. 
3. Be a good landlord. Make sure your tenant is taken care of. If you want to have a great tenant, you need to be a great landlord.
4. Set up automatic payments. I have found this makes things simple and I am not asking for money. 
5. This is easy money. My property is growing in value. I gain money each month. This is something I recommend to everyone. 

If you have something to add, let me know in the comments. I love to hear from my listeners.