If you don’t have the money, balance sheet or experience then you need to work on that but aligning yourself with other peoples assets or talents but  you need to bring something to the table for people to join with you.

I felt like his experience aligned with my goals and he was able to find a deal that made sense for me.

You want to be aligned before you jump in.

For your future investments, you should try to find a turnkey provider who owns or is closely aligned with a property management company. 

The goal is to get things aligned and run properly.

We’re trying to design a fair compensation package that aligns his interests with ours and makes it sustainable for him in the long run to continue to manage a growing portfolio.Does anyone have any suggestions regarding the best way to design such a package?

I've always thought that the Property Manager and the investor did not have aligned incentives. 

You could invest in turnkey rentals in another market, but the 1031 exchange timing is difficult to align with those companies.

With 6 people involved in a deal, it is the opinions, coordination and alignment that becomes a nightmare. 

Figure out what your goals are, pick the strategy that aligns with them and ignore all else until you've taken action.