Have a local real estate lawyer review your lease.

I am spending a lot of time reading through the forums and studying properties and rental rates. 

@Tyler Yontz You’d send the buyer the assignment contract along with the original purchase and sale agreement between you and the seller for him to review.

@Calus Glispie PS: spend some more time here and listen to the smart guys like @Jay Hinrichs @Wayne Brooks @Russell Brazil and  many others. 

This is just a general review of your analysis.Your financing does not look right. 

@Nicole ChangAre you spending a lot of time in the streets?

Here are a few ideas on how you can free up you and your wife's time:1) Online portal for all rent payments and maintenance requests (this way everything is organized and handymen can be notified immediately what work is needed to be done and why)2) Set up online billing if you have not done so already, with recurring payments or automatic payments. 3) Hire a virtual assistant(s) to answer calls, make calls, and do other work that anyone can do. 4) Keep track of how you spend your time currently so you know what changes to make first that will have the biggest impact.Thanks!

After listening to countless podcasts, reading tons of books, and spending ~1 month analyzing deals, I feel like I'm ready to make my first move.

I typically spend less than 10 mins per guest from start to finish (inquiry response, payment verifications, instructions, issues, questions, and tax submissions).

Spending an hour with a CPA who understands your overall financial situations would be time well spent, but there are some general rules of thumb:If you hold the asset for less than one year, your profits are considered short term capital gains - which are taxed as ordinary income at your standard tax bracket rate.