I’m located in Texas and am looking for guidance on ensuring I complete my first transaction properly. 

His tax professional helps him understand the implications of his decision and gives him guidelines to follow to ensure the lowest amount of taxes are paid on his income when he sells the property.Example: Michael, like Mary Jane, made $100,000 from the sale of a similar property.

I suggest going to local REIA meetups and you should be able to spot who the true players are there.

It's  like saying a player swings 27 times in a single game... that means nothing if the reality is he actually strike out 9 times in a single game.  

I also know that the best way to not fall into complacency about your rentals is ensure it is NOT a hobby and is a business, and one of the best ways to do so is to treat it like one from day ONE.Now for the advice...

Beyond these basics there are countless factors, each unique to every deal, that will then come into play in order for a deal to make sense, including things like how long it will take to turn my money, how far away the deal is from my home, what are the resources, who are the players in the deal, etc... 

Make sure you attend every meetup in your area to start talking with active investors and the big players in your market. 

Makes total sense.I'm open to a property manager (sounds like a good idea), but I need to ensure the numbers work out with the additional cost.Do you have a property manager to recommend? 

We are meeting to create an action plan of getting started this week, and I would love to know a top 5 things perhaps that we need to really knock out of the park in order to ensure our success.

Some of the bigger players in the space are listed below.