Lots of info her on BP to read through.See if you can find a local to you mentor.

This has been my first year having a rental and I have been managing it from another state since I moved back to Oregon, which has been difficult and a bit more costly since I am not local.

@Lorenzo Clark, thank you, great idea to connect with local realtors - and yes, my home inspector guy was great, encouraged me to not think I have to make all repairs at once but can prioritize, and told me what needs to be done ASAP/First - I think I could definitely contact him in the future for ideas/referrals and cost estimates.

The only criticism I've heard is that he does not take walk-ins.With advent of technology, locality is optional. 

The crews had not been able to catch up with it as it was actively shedding.

Ask a local property manager.

As for the current home, converting a bonus room into a real bedroom could enhance its rental appeal and value, depending on local demand for larger rental units.Paying Off the Mortgage vs.

You definitely need to do homework on local restrictions.   

Lately he has bought local restaurant businesses, primarily, but also apartment buildings, land, MHPs, and other commercial properties. 

Also, define how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.