Because hiring a GM is far from simple, they literally run everything so how they do directly impacts everything, in a big way. 

First, it fast-tracks your learning as an investor - you are forced to develop better time management skills, build your network of reliable contractors/ handymen, etc..Second, when you are ready to transition to a property manager, you are well equipped to evaluate and hire the right company.3.

This is not the best way to invest in real estate as you lose out on principal pay down but it gets you instant income that you can make mostly passive by hiring out the property management.

Hiring a financial advisor is something I still have not done as well, I’m in the same boat I was in when I posted.

Thanks Hire a new Property Manager.

We're just about ready to hire an attorney. 

I'd like to keep savings and be able to hire out some of the work (something we have not done in the past).My thoughts are to put both into an LLC and look for investors or a business loan, and purchase and move to a new home.

Determine the cost of construction (hiring a contractor in the GNO area is going to start around $165-175/sqft to build) and be sure to include all holding costs, as well as interest in the loan.

Making the wrong hire, overlooking the risks, taking on too much debt.

With that being said, in a worst case scenario, you can always hire a property management company to handle the day to day items if it comes to that.