I charge 10% of the monthly rent, and if I have to go to the property in person for a routine inspection or to oversee a large job or high ticket estimate, Its $25/hr + $0.50/mile driven.Hiring a professional manager is ideal if you dont have the patience, mental space, or availability to receieve random spur of the moment repair and emergency requests.

Whenever I find a job or opportunity in Austin, I plan to move there.  

I would suggest you save up as much as you can while you are doing your homework to be able to bring to the table when you find a deal that you want. 

We are 6 months into a whole house gut job and I feel like we are wasting a lot of time.

On a previous post somebody suggested investing in NNN leased properties, which I agree with.

I am 52yo, a full time nurse and will not be leaving my job, but I would like to decrease the amount of hours I work.My dilemma: I currently own my own home (I owe about $165,000).

It needs alot of Expertise and Experience, and if you have neither I suggest be very cautious.

Any marketing suggestions?

For the two years prior she worked here as an au pair and after we got married she received her green card and got her first job almost immediately.

What if the new owner backs out of the job and gives it to their "regular guy", will the original contractor come after me for any expenses/materials spent?