If you know of any legal entity in TX that can help in a case where GP is not doing their job (maybe a branch of SEC), please let me know.TIA

@Nick AmYou also may want to consider other matters besides taxes, such as state law requirements for management companies and serving as a property manager, especially with a tiered structure.

Quote from @Matt McNabb: I'm a solid $400k/yr job in NYC and have $250k to begin investing as my first step into building a portfolio, although I don't have time to be a landlord so I have to account for management fees.  

Knowing which subs go deer hunting , fishing , will or wont work weekends , which ones are tied up on longer jobs , etc .

This will require a GM. 

There is so much that goes in a business, rental rates, rental tax, inventory,  job costing, payroll, business analytic reports etc, QiuickBooks does handle what I have mentioned here. 

Now, you can get some wholesalers but they usually don't know if the property will fit the requirements and regulations but you can learn that from the Realtor. 

In neighborhoods that won't attract high credit score tenants, I've found that a stable job history with a MINIMUM of 1 year at current or previous job to be the best indicator of a great tenant. 

Frankly, I'm sure you do a good job in the space where you work.

Consider population trends, job growth, and economic stability in these areas.2.