New to Oregon and seek to align myself with a low cost (of doing business/split/etc.) brokerage.

. $60,000 payoff with 13 years left on mortgage with a 3.875% interest paying $1,233 with taxes and all.

(Mostly car loans, 3 year terms left, and a 4 year home improvement loan).

What are they left with in that case? 

Align our interests (for a change?).

Long term goals are aligned and I have no reservations regarding decision making or our ability to define the partnership roles.

@Joe Villeneuve  in the great GFC  mass foreclosures were a result of tenants not paying in many markets... and under capitalized and underwater owners.. defaulted with many ruining their credit for years because they did not realize that they needed substantial reserves to handle vacant properties... then you add in the areas were vacant properties get trashed and stripped then there was no hope for the owners.If you look at most homes that you buy today.. at least 50% of them are failed landlords that walked... this is true all through the mid west.So one needs to not just think that if there is a melt down again everyone becomes renters this did not play out that way last time... many left the area  ( think PhX Vegas) Many ended up moving in with family... 

My husband and I left the rat race several years ago to become full-time real estate investors.

There are a ton of investors in San Francisco and NY accepting minuscule Cap Rates, because they've been seeing so much appreciation.Since depreciation is out (BTW no depreciation on land in the States either) you're really only left with appreciation (assuming no CF) and mortgage pay down. 

If it's not in Texas then you're probably using a property manager and that takes $5,700 off of the top and you're left with $6,300 for all of those expenses.In short, something about the numbers doesn't add up...