We plan on keeping this as a furnished rental indefinitely.  

Will it be indefinite, or will there be a buy-out clause after a certain period?

I believe deferred sales trusts will still recognize depreciation recapture in the year of sale, but this strategy would allow you to truly divest from the property while getting installment sale treatment for capital gains (which in theory could be deferred "indefinitely"; on this model, interest and dividends could be paid out but principal retained until you're ready to recognize capital gains over time).

The $250 per month will kill your cash flow indefinitely.

But once you find a great contractor, you can use them indefinitely in their area of expertise for most all your projects going forward.  

I think I'll take at least 3-4 months to just keep reading up on everything before jumping in, definitely.  

How do I know interest rates will remain low indefinitely?

, do you want to live in CA indefinitely?

The side by side family arrangement seemed ideal and truthfully from looking at the place it seemed like this situation would probably continue on indefinitely!

You can either continue with that structure indefinitely with a strong management agreement in place if you want.