You can also partner with experienced investors who have the funds but need someone to find and manage properties.

No, you can manage multiple markets in one account.

Have yourself own an interest in the LLC, and have another entity you control own an interest and be the manager.  

Either myself or project manager wen I don't have time, because most contractors need daily supervision.

Is it possible to have a property manager who manages some of the property, while I manage the rest remotely?

We set up our CPA, LLC, website, marketing plat forms (social media), investor (sponsors) list, I have an operation manager, acquisition manager, and myself leading the charge.

I am a broker and property manager here in Clarksville, TN.

The biggest lesson learned was managing stress.

Making sure we can manage our own properties in these areas.  

In order to do this you need to have deal flow and you need to know 1) How to recognize a good, profitable deal, 2) How to put together funds quickly to buy the deal before someone else does and in such a way where you are protected and the deal is protected, 3) How to run the project so that you follow the budget and don't overspend or overbuild, 4) How to attract an end buyer or a renter and which documents to use to protect yourself and the buyer, 5) If you are going to keep the property then you need to know how to set up the property from the start to best help you in the refinance later, and 6) You need to know how you are planning on managing the property from the beginning in order to make sure it will be profitable at the end.