Normally your attorney will provide you a specific guidance as to the expectations of it.Happy to chat more offline if you have any additional questions. 

Look at ways to add value to a property, not just by rehabbing but look at properties where you can add an additional property on the land.

Your choice will depend on your level of risk tolerance (holding in a cooling market) and willingness to make additional investments in the property.

If I’m going to do this long-term I think the knowledge is probably more valuable than the extra rent of getting it done quicker.

These are professionals with additional training and a stricter code of ethics.

That's one additional factor that goes into my rental estimates.

I would maybe consider a percentage of profit in addition to normal rent?

I agree to pay buyer closing cost and additional for minor repair.

The last thing is that you've simply brought an additional partner into your management.

I mean you have been doing it already and since you can cover you debt service buying an house that will provide you two additional sources of income if you can make it cash flow that can also help you pay off your current debt, and as you pointed out you would also have a long term asset that should reasonable go up in value as well over time.