Recently (last year) I hired a management company to help me out as my day job working in IT has consumed much of my time and I wanted more time to spend with my daughter.

Since the contractor I hired was bad.

If I invest in another state I will likely hire a property manager.

That's good that you can tackle some of the construction but be wise about what you take on and consider hiring others.

There are plenty of other issues like hiring the wrong contractor, zoning/permit issues, helping buyers qualify, poor design choices, etc., but the bulk fall somewhere within those three buckets. 

If you cant close on the transactions, your going to ruin your rep.

You want quality contractors, never hire the cheapest guy as there is a reason why.  

I'm hiring a RE attorney to draw up the lease and execute before COE since I do not know the nuances about commercial real estate.

If you are hiring a 3rd party management company to run it (which i recommend in case you want this to become your business - so you can scale) then work with them to create the pro-forma.  

Obviously with me being half way across the world I would hire a property management company.