If your home is newer, requires little maintenance, and doesn't experience a vacancy for at least 12 months, your $300 cash flow can build up a tidy reserve to get you through.

You have tax benefits through depreciation and you are gaining experience via property management.  

Feel free to share any specific questions or scenarios you’re working on—I’m sure the community here would be happy to provide insights.

Simple does NOT mean "easy" or pain free. 

I've always considered getting a PM, but it's hard to give up that 8-10% ($1k/month) especially with everything that I hear/read regarding investors' experiences with PM, also there is a lack of options in my area. 

Each former member is then free to either do a 1031 on their % interest or take the cash and pay the tax.The opposite manuever was more common until around 15 years ago. 

(b) Is it okay to talk to multiple realtors at the same time (I'm thinking it would be better to have a separate realtor with lots of market knowledge and experience in each of the mentioned locations) or should I only plan to use one?

This is my first investment, and I've learned a lot from this experience so far, and I'm ready to keep moving forward with new projects.I am interested in investing locally in Denton County and the surrounding counties.

Not realizing I was only getting a few hundred a month from it and from a cash-on-cash perspective I'd have been better off buying TBills with the click of a button instead of all the hard work, stress, time, and planning I put into it. 

We would like to create a partnership where we are 50/50 partners and he brings the cash and I bring the experience, knowledge, and contacts ect.