I am leaning toward placing a competitive offer.

Must be a lot of competition in the Decatur area?

If you’re okay with the lack of control, it could Be good for you.A benefit in addition to being passive is that you can invest in whatever markets you’d like.

@Evan Polaski It took me at least a year of sourcing sponsors, finding investment group resources, analyzing opportunities, and understanding proper diligence; so, following a sponsor for a long time happens in the ordinary course of getting familiar with an investment strategy (particularly one that lacks control). 

This is essentially where we are at now, and just lack my signature to make it happen.

Finding deals through agents on the MLS is going to be much more competitive & it can be harder to find deals where the numbers work.

Your question in (1), my simplest answer is this is why you're not ready to be a Managing Broker, your lack of knowledge, insight and comprehension in this regard. 

How does your property compare to local competition?

Depending on terms and overall cost, 7.8% may not be super competitive. 

There is less competition now and the saying "Don't wait to buy real estate, buy real estate and wait" ALWAYS holds true!