Having local family gave me a built-in support system, market familiarity, and the confidence to manage a property from a distance if needed.

You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property. 

As our portfolios grow and we gain more properties, wealth and skills, at what point is enough?

If I got a home equity loan for Property 1 and used the proceeds as downpayment for Property 2 and then got a 2nd loan for the remaining 75% purchase price for Property 2, when I sell Property 2, can I use the Property 1 loan as part of the cost basis for computing Property 2 capital gains?

Even though I wasn't a good asset manager, I made money on my properties. 

If you’re using a car for business, log your mileage or depreciate the car; whichever method is favorable to you.

Since my first property is long-distance, I figured it’d make sense to look for my next one closer to home.

I've noticed that properties with virtual tours tend to get more engagement online, and investors/agents who use them often say they help attract more serious buyers and renters. 

Theres one I think its by Brandon Turner that is called rent to retirement. when I was starting out I read one that was called one property a year that resonated with me.

Quote from @Pamela Rivas: Hi Natasha,Here are some key points to consider about setting up a Mexican corporation:Setup Costs: $1,500–$3,000 USDOngoing Costs: $1,000–$2,000 USD/year (accounting and tax filings)Benefits: Tax deductions for expenses like maintenance, repairs, and managementBest for: Multiple properties or income-generating investmentsWhile a corporation is ideal for managing multiple properties, it’s NOT required to obtain an RFC.