My .02 is that if the answer is no then you should analyze it as a pure investment property and don't forget to include PM, Capex and reserves. 

I'm a pure buy-and-hold investor, so I have to get the numbers to work so that (purchase + renovation costs) less than ARV.  

Pure demo is more of a $10-$20/hr job. 

Purely theoretical fantasy at this point, though it did happen in my lifetime (I was a toddler at the time).

Not by much, but this is a personal residence, so not purely motivated by profitability.

If you hired work done it would be deductible which gives you tax benefit.Wait until you to sell the properties and all his sweat equity will be taxed as pure profit. 

You haven't shared your goals or motivations so it depends on what you're pursuing.You don't sound like someone purely motivated by profits but correct me if I'm wrong :)Check out this great thread on how Collin picked up 25 deals since starting this year based on using multiple avenues for lead generation:Collin Schwartz said:"Eight units were MLS (2 deals), six units direct mail/cold calling (3 deals), and eleven units (1 deal) were brought directly to me from my partner as an off market deals.

The consideration for whether or not to hold properties in an LLC is purely a legal liability decision and, because I am not an attorney, I am not qualified to render a professional opinion on this topic.The arguments for and against holding property in an LLC on BP alone are innumerable and can be found utilizing the search functions.

Believe it or not I've seen sellers take heavy discounts on their home purely based on the fact that they don't want to deal with showings and the whole listing ordeal.

So a regular labor which we pay at 18/hour will be ~30-32/hour or $240-250ish out the door, that's just pure payroll, we still have to account for their paid leaves, medical/dental, etc which accounts for say 15-25%.