However, I was wondering if you have recommendations for books or sites that offer basic to intermediate information for those of us starting out and really trying to establish a good base of knowledge.

Partner up with someone already established in real estate working a system that made them financially independent.Creative?

Sounds like you have a focused game plan- I'm sure you will do great things in the REI space.

If a dual agency is going to be established, it needs to be disclosed to all parties involved, and each party would need to agree in writing to the new relationship, and limitations that come with it.When you are dealing with a Realtor of integrity, none of these situations present issues. 

My opinion is unless you desire to speculate on the Jersey City Housing market, and find that the ~400 loss per month is worth it to have skin in the game, then I would sell.Based on the wording of your post is sounds like you prefer stable cash-flow properties to speculating on the market, but both are fair strategies when properly applied

Most people are going to want you to have some skin in the game.

On the other hand I understand I'm unproven to each person I sit in front of and I find myself asking what the relationship is worth.I'm curious if some of the more experienced buy and hold investors had the same problem when first establishing their commercial relationships.Do I just need to suck it up and establish the relationship at the lesser valuation?  

I’m a licensed agent in NJ and NY with Keller Williams - Let me know how I can help so we can get you in the game!

MAIN QUESTION (1 & 2):1) Besides due-diligence...what would your first moves be in establishing yourselves as the new owner (learned not introduce myself as the owner but rather property manager)?

That one piece of advice or info can be a game changer.