Zoning might be an uphill battle with all the alderdunces looking over their shoulders now. 

As for PMs - just starting making calls after researching local companies and mom and pops and seeing who you like the most - it will be a big burden off your shoulders to have someone else properly managing this, getting rents where they need to be and helping with upkeep.

You've got a good head on your shoulders and will make the right decision.

You are likely to find the cold shoulder from the seller as that is an unrealistic offer -- but do it anyway to prove the Realtor right. 

@Bianca Navalta That is fantastic, you have a really good head on your shoulders!

I have successfully completed 4 properties with gains on each, and am looking to gear this structure into a business entity so that the tax burden is less cumbersome and liability is lifted off my shoulders a bit as an individual.

@Bradley Post Sounds like you have a good head on your shoulders!

You would be very wise to seek out counsel from a competent professional about all these questions.Regarding taxes: I've done several agreements before where we specifically lay out who will be shouldering the costs of taxes and we put a dollar figure on it ahead of time after running calculations. 

I am embarrassed to ask this, but feel lost in almost a loop of analysis where both "A" and "B" answers seem to be the right one depending on the day of the week and phase of the moon.If any of your more educated souls wouldn't mind looking over my shoulder on this one and let me know what you think, I would appreciate it.Ultimate Question: Factoring out significant appreciation, would it be better to pay off a single-family-home rental than finance and buy another one?

My guess is the larger investors who can shoulder increased risk will be the ones who benefit most.