Search 'pm horror stories' with one hand while your other pumps up and promotes getting one.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

Ultimately, we've decided to hold off and pay down our outstanding debts and save for a cash down payment on our first rental property.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

My main concern is regarding cost-basis and future capital gains tax when I ultimately sale the property. 

The sponsor's largest source of revenue is in the promote, which in most cases isn't realized until the sale. 

However this forum is not for self promotion. 

I will say this is a strategy that is promoted on these forums frequently. 

Its what get's you deals brought to you, its what gets capital flowing in your direction, and ultimately what creates success.  

This was despite my explaining that I would be making a cash purchase and already owned residential rentals in the area.Eventually, I found one or two agents who were enthusiastic to work with me although not after first promoting their own noncompetitive pocket listings.