If your investment property is in an area which consists of largely rentals, you will likely want to consider renting as well.  In the future, you may consider selling, but it might be best to initially rent until the neighborhood becomes more retail.

            Before you list the property, you will need to have it rental ready.  This means including features during your renovations which can easily be replaced without great cost if damaged by the renters.  For instance, you may want to consider laminate as opposed to hardwoods or vinyl as opposed to tile.  With so many options available at home improvement stores, there are countless options for refurbishing that are inexpensive without looking cheap.

          As far as renting the property is concerned, if you want to handle it yourself, make sure you're going to have the time to show the house to interested parties or that you have someone you trust that can do this for you. This can be a trying and hectic experience, but you will pocket more money in the long run.

            Your other option is to hire a real estate management company to do the work for you.  While they typically charge a 7-10% monthly commission on the rent collected, working with a reputable management company has several advantages. They take care of many of the time consuming details of the rental, such as assuming the responsibility of screening applicants for credit and references.  They handle the actual lease agreement and collect the rent.  They also maintain the property should any problem arise.

It's possible to hire a management team as soon as you buy the property to handle the renovations as well as the rental.  However, the costs for this sort of service could be as much as 30% higher and tends to cost you more in the long run.

For a better idea of which neighborhoods are suited for rental and which for resale, browse the properties Atlanta Investing offers at: http://atlantainvesting.com.   The list changes regularly as properties sell and new ones are added.

 Tenant Screening