I do understand the problems that can arise with partners, particularly family.

It may require more up front $$$ but the trade off seems beneficial when maintenance and capX issues arise.

It is great you are choosing an area you have family connections in, so if issues arise, you have family to stay with and spend time with.

If a tenant has lived in the house for over 30 days and then the problem arises, I make them pay for it. 

I have an in-law (Aunt) that works as a full time agent in Atlanta and am conflicted on whether it's the right way to go in listing our personal residence and buying our new one.She is full time and seems to have done well over the past ~3 years or so, but I'm wary of potential conflicts that could arise. 

Chapter Two describes these relationships, which include (but may not be limited to) the following: spousesparentschildrensiblingsstepchildrenaunts-unclesnieces-nephews...and, according to Chapter Two of HUD 4155.1, unrelated individuals who can document evidence of a longstanding, substantial family-type relationship not arising out of the loan transaction."

I like to have cash on hand and ready to go for whatever future opportunities arise. 

-It's my job to get the repairs done as quickly as possible so I can close the deal -Have the buyer get involved in the repairs and upgrades because it's their house so that they can take mental and emotional ownership the more they are emotionally involved in making it "their home" the more copperative they'll be if any problems arise.

They still legally cannot just sit hoping to make a profit from a rising market.John Corey

Contact a local attorney or better, enroll in a pre-paid legal service so you will be able to contact an attorney anytime an issue or question arises.