I've been in Real Estate business since 2007 and specialize in residential properties in Los Angeles and San Fernando Valley areas.

I work the Greater New Orleans area, but specialize in Orleans and Jefferson Parish.

You need to confirm the lease with the tenant as well (and have them sign off) - pay special attention to the advance payments section.

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

I would be sure to have a CPA who specializes in this put a plan together for you.

Ok so first pin down an area McAllen is 8 hours from Waco next find a realtor (preferably one that specializes  in investment and or does so himself) in the areas you want.

Do I need to include anything special in the operating plan?   

I would recommend getting a Warranty or Special Warranty Deed if you can to protect your interests in the asset so you can keep it. 

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

However, if your two numbers are way off, then you'll need to decide whether you want to proceed with him in this capacity.One more piece of advice I would give here...be aware that just because someone is really good at their own specialized trade, that does not mean that they will be good at managing others to get work done.