Sizz, are you thinking about buying a property for income or to actually live in (if it's okay to ask a few questions to get a better picture)?
When you mention fix it up - are you looking for (I think it's called a flip flop) - a fixer-upper at low cost & doing major renovations (out of pocket) & put it back on the market? If I'm not mistaken, think there was a law where you had to live in the home for a certain amount of time/years. Check the laws in your state or call a realtor.
Also, keep in mind, if you want to find a home to live in & you rent the property rather than selling it - you might have to (depending on your finances) need to carry two mortgages, property taxes, & apply for another loan. You will also need to take into consideration the property taxes you will be paying on a property you are not residing in.
Re rental agreements/landlord:
You can go to any stationery store & buy pre-printed rental agreements. Could use it as a guideline & add your own stipulations. Be sure to ask for references & follow up on potential renter's credit history as well. (If a renter can't come up with the rent - you may have headaches later on as well as damage to your property.) Be sure to ask for deposits etc. When interviewing, trust your best instincts.
If you have an attorney, you can let them handle it for you & look over all agreements & advise you.
My understanding is, for a fee, a realtor can take care of rentals, etc., without your having to be directly involved.
Weigh out all the pros & cons, & see if you have a good shot at coming out ahead. I wish you good luck.