The house has new vinyl siding, fresh paint and a metal roof that was serviced about 7 years ago.

I'd love any advice/perspective I could get on what I need to be looking for.

In my experience, having an entity is more useful from a liability perspective if, among other reasons, you're a passive owner, if you have multiple owners (particularly if some of them are passive and you are the controlling owner), if you have more complicated operations or if you have employees.

@Mariano Wahlmann,I live in Dallas and here is my perspective...Dallas is going through Economy Boom, Everyday 1000 people moving to DFW metroplex.Companies are declaring their relocation to DFW every week.There is new construction going everywhere, still they dont keep up with demand.I was here is 2008-2009, Dallas just slow down during that time period, never feel recession.Here are recent data from Forbes about Future growth...

When investing in real estate as well as looking from an outsider’s perspective, it can be skeptical.

@Linda WeygantMakes perfect sense when all I would really be doing would be causing problems where there isn't one anymore.They did renovate, repair, and replace everything and there isn't much more they can do about it.Just viewed it from my perspective if I lived there.

So paying off our primary residents wouldn't be nearly as advantageous from a tax write off nor a monthly cashflow perspective than would be paying off one of the rental properties (or acquiring another one).Hope that provides some additional perspective. 

In other words, even if a property is freshly remodeled does NOT make you immune to all those expenses ... if you hold onto the property long enough (as you well should as a buy and hold investor), then sooner or later those items are going to need to be replaced and are going to cost money to replace ... if that money does not come from CapEx reserves taken out over time as a CapEx expense in the budget, then where else would the money come from?

Your cap rate to cost might be higher than you can purchase existing in the marketplace.Some buyers are looking at older buildings touting ( new rehabs or freshly updated ) with optimistic numbers from a seller.

I do not think you need a PM, you do need to learn how to better operate your business, I defiantly believe you should not renew this tenants lease in April and get a fresh start training a new tenant properly.