I will make sure to do my numbers to ensure cash flow.

If all my people and resources are in one place, I don't need to track time across properties, I don't need detailed tracking to ensure the repair costs are allocated to the correct property, and I don't need all the other complexities of managing a multi-location portfolio.  

With that said, it is important to be fair and transparent throughout all strategies to ensure tenant satisfaction and loyalty.

Write down specific goals you hope to achieve and ensure both  of you are on the same page, reading the same books, evaluating the numbers.

Seems redundant, but it ensures you will have an active permit during the buy process. 

Advise them they don't need to worry about cleaning, but do need to ensure all personal property and rubbish has been removed before turning over the keys.

You don't mention if you have carpet or not, if you do then spend a bit more on the carpet cleaning to ensure it isn't holding the smell.

I know ensure I calculate paying myself full market rate as the agent, contractor, bank, and investor. 

Sounds like if I were to go ahead and invest in a larger multi-unit I need to prioritize setting up a solid team and ensuring I have plenty of reserves before engaging.

You can save yourself a lot of work by reading that and ensuring all of you are on the same page.And here's my advice for finding a property manager:Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.