OP your byline references Lakeway, Texas.

When talking to property managers, ask questions regarding any guarantees they offer owners and refer to any online reviews to get a better idea of how tenants and other owners feel about working with the company.

If you're referring to the Gain on Sale from your example, it's a Section 1231 Gain and is taxed accordingly. ...

Attending local meetups, analyzing deals regularly, and continuing education would position you for long-term growth.Good luck!

Quote from @Zach Edelman: Should be a list of Bigger Pockets recommended list of Hard Money Lenders to refer to as well/make the search a bit less overwhelming.  

Happy to provide you with references if you ever decide to try it out in Memphis TN.

I enjoy the guaranteed rent and higher rents than most regular properties with a "normal" tenant.

By "business account," I’m referring to setting up an LLC as well as a business bank account.My goal is to expand my real estate portfolio by acquiring approximately two properties per year.

Please let me know if I can refer you to my contacts to discuss. 

If you are out of state, who connected you to the contractor and what references did they have?