I think it is time for me to have a property management software of some kind to manage my long-term rental properties going forward.

My advisor suggested that at my stage of the game, 8 properties, it likely made more sense to keep the extra money available or in the business to use as emergency funds or to accumulate for another down payment.

Property Type: Do you prefer residential, commercial, or mixed-use properties?

Can someone please recommend a good and honest property manager in the Florence, AL area whom they have had a positive experience working with .

It seems you are the only person who understood the question wanting to know what a seller makes (not even sure how or why you think that).As a typical part of the DD process it is not uncommon to ask for property/entity tax returns.

TP spends 100% of their time in the asset management of these properties (not property management).TP has recently invested personally in these deals and owns at least 5% of Property A.

If someone is bringing part of the closing costs, it’s common for them to receive a portion of the equity that reflects their financial contribution compared to the overall deal.

If they've owned the property for 15yrs, probably a better chance of owner fatigue than someone only having it for 2 yrs.

That may run you close enough to the price of an older single family house, so I opted for that property type. 

The report makes a big deal about the neighborhood and local economy in addition to the property itself.