Does anyone have advice for a first time landlord?

Best advice I would give is to join your local rental housing association. They have access to all the correct (legal for your area) forms and are a great resource for everything from maintenance vendors to fair housing laws. It’s not that expensive for all the free (and correct) advice you get. Annual dues are usually less than the cost of 1 hour of an attorneys time.

Make sure you’re following all of your local regulations. In my area, I have to have a business license to rent out my property, have the property inspected every two years, and must pay quarterly taxes on the income. Keep meticulous records, too. Use a proper lease. Take care of small problems before they become big ones.

Be friendly but keep the biz. aspect separate. Encourage them to report any problems ASAP.
Do something nice for them once in awhile! Upgrade something, offer some landscaping incentives, treat them as valued renters, which they are. ;-)

If you can afford it, hire a property management company to oversee your rental property. Unless you’re up to dealing with the headaches that come with being a landlord.

Please allow dogs, if you are worried about damage then arrange for a pet deposit, an extra 1000 dollars or whatever! It is so hard to find a place that will allow a dog and truly (speaking as an ex employee of a huge property management firm) they cause a lot less damage than kids!

I wouldn’t hire property management, do as @augustlan says, that is good advice. Here in Australia the landlord or management co. has the right to inspect the property every 4 months to make sure no one is wrecking the place. It is a good idea.

I agree with @Coloma be accessible, friendly, but professional, and encourage them to report any problems. Open lines of communication have always worked well for me, while of course not being intrusive. I have always had a good experience with my tenants, I hope you do too.

I recommend using an accountant for your taxes so you get all the deductions you are entitled too.

I don’t think I mentioned, it is wise not to rent to friends or family. It makes it really uncomfortable if you have to evict them or try to collect the rent when they’re late.