This company will not own the rentals, because I do not want to trigger the Payment Due on Sale clause in the mortgage; the properties will remain legally in my name for now.

My word of caution would be to consider if this will trigger a due on sale clause for you? 

I tell my clients 70% of the time a property is a bad deal, 20% of the time its okay, and 10% of the time they should pull the trigger)and the ability to bring deals to the table (Opportunities that no one else knows about are the lifeblood of a deal-making investor! 

That may trigger a new assessment.

When selling for 20k, the OP does in fact have a gain, as defined by the IRS, which would trigger the recapture rule.

I had 2 listings recently where my quick-trigger finger was telling me to lower the price, but I resisted asking the owner for the price change and we sold for 98% of asking prices.

Hey guys, I'm looking to "pull the trigger" on my next deal.

Pull the trigger, as long as house is live able you have a good deal.

What if someone breaks in and the alarm is never triggered or it is triggered and the security company never calls the cops?

I am still trying to learn as I feel I am close to pulling the trigger.