Thank you Jaron..really do appreciate the guidance and candor…I am probably not articulating the finer points well…my daughters are actually only the tennets…they are not involved in any of the potential decisions I am considering.  

You might find that the stock market makes you more money with less work (seems you are trying to minimize your involvement w/ the rentals). 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

If your sister-in-law prefers not to be directly involved, your wife could become the sole owner of the LLC, and your sister-in-law could be given a secured interest in the home after the HELOC is obtained.Additional Considerations:You mentioned owning two other properties.

Explore WholesalingNo need to own or live in the property: Wholesaling involves finding deeply discounted properties and assigning the contract to another buyer for a fee.

If you have family get them involved...sell FB marketplace and eBay for a year and they can do that from home.   

Do you understand the added complexity, work involved, and costs? 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I recently moved to the DFW area and want to get involved in real estate in the near future (looking to buy a property in the next 6 months to a year).

It shows that you mean business and will not allow any slack and will get the right people involved to inflict the most punishment possible. 3.