You should also select a local and experienced Team full of professionals that will help on doing things that you need help on or do not know.The primary Team members are typically Attornies, real estate Agents, CPA's ( or accountants), Inspectors, General Contractors, and Handymen.  

The situation is that she is a school teacher who lives an hour and a half from here but was hired to work here locally this year.  

Then, we hired a property manager to take care of it, which he did for 10% of the rent.

It's called the Professional Investors Guild, and I think it has a nice group of folks who regularly attend.

Always open to advice from experienced professionals.  

If you plan on professional management, get a PM engaged in the process asap.  

Most often, owners are interested in hiring someone who can place the tenant for them and also provide ongoing property management.  

Hire an attorney and structure it as a debt transfer (assignment of assets).

Sellers, even very professional ones, often "groom" their income statements (same thing as P&L or T12) when they know a sale is coming.  

I read that you can hire an unlicensed assistant as a licensed associate in Florida so that the assistant can have access to the MLS.