Foremost, Proper are 2 big ones.Don't skimp and get the place insured properly.

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.

Get an attorney and get these losers out then hire a property manager to properly vet any future tenants! 

How would you recommend, or what resources would you refer for us to properly figure out how we spend our time and appropriately get compensated for it?

Other CPAs and firms have quoted me 5k-10k+ but are no where near as responsive and personable as my current CPA and accountant.You are going about this properly.  

But, this will be front-end weighted and gradually slow towards the back half of the year.

The "due on sale" clause (DoSC) obligates the seller to notify the lender if the property is sold.Failing to do so would place the seller in violation of this agreement, giving the lender the right to accelerate the loan.But no laws are being broken here.So, subto is neither legal nor illegal.Second, it only works because most lenders are more interested in receiving payments than in invoking the DoSC clause and foreclosing on the property.But, it can work, provided seller and buyer are both on board and the proper process is followed.

As someone who manages over 1,200 properties, I can tell you that proper screening is where professional property managers (PMs) really shine.Here’s why working with a professional PM is worth it:Screening Expertise:Fraud in tenant applications is more common than many realize.

Do you have the Capacity/Ability to close, do you have the Character/Credit to close (including relevant experience), and do you have the liquidity to properly provide enough collateral (are you injecting enough into the deal).

It does however give you a degree of independence to choose what you want to do.As your portfolio grows you'll also feel the weight of future capex responsibility more, which ironically points you to growing more cash flow through more real estate.The other issue is that you are chasing a moving goalpost.