Also, if you do decide to sell, be sure to consult with your tax adviser to avoid/delay taxable gains. 

Hi Harjeet,So the benefit of buying a home all cash over using buying conventional to buy home is you can refinance less than 6 months? 

@Max T.For me the biggest benefit to landlord locks is the single master key that opens every unit.

(Any benefit to having this?)

All told, in 24 months, made about $25k (half rental income, half capital gain) on $158k invested (about 16% return over 2 years).

Can any of you recommend books that you have read that were helpful in gaining perspective on the property management industry as a whole as well as "best practices" for setting up systems and processes for offering property management to investors?

Explore both options with your lenders and see which will benefit you.

If you sell, the gains and depreciation are on you.A 1031 is worth exploring.

It was a little stressful as we were footing the bill for the mortgage ourselves for a month or two more than we would have liked, but there lies another benefit of going in with a partner to spread out risk and financials.  

Since you occupied for two years After it was a rental, the cap gains that will be exempt will be the prorata time it was your residence verses the time it was a rental.ie.  8 years as a rental, 2 years as your primary....20% of gain is exempt, 80% is Not.