Mitch,It sounds like you've had a successful run with your rental properties in College Station/Bryan - I'm impressed!

Sounds like you got it perfected as much as it can be…

Very often they sound robotic and scripted and does not lead to hot leads or appointments. 

It sounds like you could have a promising deal, so lean on your experienced agent for guidance and go take action!

Sounds like internal accountability is really important to you!

Sounds like it might be doable, especially since you have already experienced what it would be like.

A nice multi family property that you can do some light fixtures on sounds like a perfect strategy for you so you and your wife can have your own unit.

Not sure how many PMCs you've had bad experiences with, but we'll take exception to:"Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health)".BP seems to have more threads about screening mistakes by DIY landlords as opposed to PMCs.Now, if you'd have mentioned Maintenance, you'd get no argument from me:) Even the PMC industry acknowledges maintenance as one of the biggest challenges.Rereading my post, I kinda see how I sounded negative toward PMs.  

You’ll want to get really familiar with local zoning laws, short-term rental rules, and landlord-tenant laws as they vary by town if you plan on going the STR route.Focus on Cash Flow Early On: You might be tempted to go for something that appreciates quickly, but in the early stages, it’s important to find properties that bring in cash flow.

(I am a silent investor, the developer is doing all the heavy lifting, and we split profits at the end)It sounds like you’re being really strategic here, which is smart.