I also need help identifying other significant tasks I should be doing during escrow.

They will have to have an ability to do multi-tasking.

I don't care about a "Comp" I want to evaluate the performance of the property.

The taxes and insurance (homeowner's policy) are in the buyer's name, paid for by me (additionally insured) as part of their monthly payments.If the property needs work, or upcoming repairs (new roof, windows, etc) I include these improvements within the contract with a penalty cost if not performed by agreed date.

Although, ironically, our 'bad neighborhood' purchase has performed well.

Depending on where exactly the property is will determine what type of tenant you will have which will dictate how it performs in the long run.  

So you can assign or resell (sublet with the lease and re-option with the option) either of them.Therefore, you have multiple ways to structure this depending on how long you want to be involved and how much associated risk you are willing to take.With the lease, you can assign it for a fee and be done or you can sublet it where you are still on the hook for the terms of the lease, but can receive the difference in rents for the entire term.With the option, you can sell (assign) the option and be done or you can option your option understanding that performance will require a double close.  

And finding a broker to sponsor, some have performance quotas and can release u if you dont produce. 

Both of you sit down together, make the buying decisions together, and split up tasks like hiring contractors, etc. 

Then perform....