Then take the profits to buy one and hold and put your flip profits into the hold so you can get your equity to that 70% LTV or so. 

This could be a share of the profits or equity, typically in the 20-30% range, depending on the complexity and the workload.

And as long as the amount you are using for investment meets your reinvestment target then you could live in one of the units as your primary for a while or forever.When you sell your current primary the 170K of profit will be tax- free. 

A good solid profit but not enough to justify 20 months of work.

Any lawyers here who would be willing to review my real estate LLC articles or organization and operating agreement?  

The biggest challenge I can see for this is that I hear it's a pain in the *** for the seller to go through a local community bank and confirm their income for their approval for a mortgage, and there are local/community banks that will approve 95-100% LTV loans based on how profitable the deal is.

To start, I’d like to ask you a question: What is more important, purchasing real estate where you can obtain 100% return of your capital through the BRRRR investment method but otherwise break even or even worse lose money or alternatively  leave some of your capital in the deal but earn a profit when the property is sold? 

To do it profitably?

This could range based on how much risk and work you're taking on versus their financial input.The key is to be clear and transparent about expectations, like how profits will be split and who is responsible for what.

Look to see if they are growing and profitable.