My hopes would be if we can both proceed without an agent, we can cut additional costs out of the equation. 2) If we decided to proceed, what is the next order of operations?

The operating agreement (OA) details what member is responsible for what task(s) and how capital funds are contributed.

If you maintain solid financial statements, you will be able to sell that property in the future a lot higher because you technically increased its value (regardless of the market) because of the increase of its Net Operating Income.  

In a few years, when he moves out would continue to jointly own the investment property.

The Houston market has been incredibly strong and diverse - and has flooded before with no dire residual effects - I predict the same, Houston will rebuild and continue its growth.

Then continue to analyze these deals on the MLS. 

Tomorrow I will be in continuing education for eight hours of my life that I can't get back, to maintain my license.

I have attended a few local REIA meetings and will definitely continue. :)

Many new agents fail to make enough commission to cover their operating expenses and their living expenses.

I would continue to research them and vette them.