However if he retains title using you as his asset manager and the tool of the 1031 exchange to shape the portfolio, then upon his death you will get the "step up" in basis and whatever tax he built up on it during his lifetime will be gone.  

This would give you some cash to play with while retaining optionality here in CA. 4) You can ALWAYS sell.

I know a new trend with PM companies is holding money until the end of the month, so maintenance expenses can be deducted faster and to retain cash.Great discussion.

If he files there is no need for you to retain an attorney in Georgia's Magistrate court. 

Wanting to understand exit strategy OR if I could/should retain them longer term.

Ideally you'll want to pay zero for your consultation and if you retain him, push for a flat fee instead of an hourly rate.

Other than Airenvy having serious money behind them and advertising just about anywhere you click, I don't see the advantage for hosts to hire large management companies as I believe the smaller companies are more attentive to the property, the guest and obviously, doing a stellar job in order to retain 5 star ratings and repeat guests.

I'm going to rent it out without the garage (which I will retain for extra appliances/tools/countertops etc). and it should cash flow $500 per month after PITIHOA.Because most of these units are so new, and many have HOAs, my budget for repairs is lower than many people on the forums experience.

If you have a $100,000 of equity in the Colorado place, cash it out and fund some more purchases while retaining the asset. 

On monthly expenses you also might have real estate fees, but I didn't check as for my first property I really don't intent to use them, and the usual repairs, here there is something consider "normal wear and tear" meaning you can only retain part of the deposit if the damage is not considered cause by normal use.