I am expecting to add around $100,000 of value, but i suspect i can get more (contractor is a friend with super cheap rates,  RE market is really good, 3-5 yrs of political stabilization after a series of coups in the 90s and 00s and prime location).  

I like this concept for things that don't involve TV/passive mental capacity because the thought is that, you do the task until your tired again and go back to bed.

They have their TV up too loud, kids running around, up late at night, shaking the house, etc. 

If you practice sound asset protection such as solid insurance coverage plus series LLCs or using trusts in conjunction with LLCs you're OK on the liability front.

You'll need to separate your assets (either by using a Series-LLC or individual LLC with assessed distribution of assets by LLC) and you'll need to separate your passive (asset holding entities) from active operations (the property management side).After you took care of all this you can look into other more complicated/expensive strategies like you describe (equity stripping).Here is a diagram to help you on this quest - talk with @Scott Smith for professional advice on this:

Just wanting to get my feet wet in flipping a house (sure looked easy on TV!)

So perhaps a series of article around lease programs or whatever type of service you're offering.

If the house would ordinarily rent for $2,000 a month, that comes to $400 per room but you are probably including utilities, TV, internet, etc.

I worked in the tv/entertainment world for a few years before making the move back up to nor-cal and settled into marketing/design/video.

Hey Nic,Did you setup a traditional LLC or a series LLC in order to separate each property?