The fees vary with the specifics of the deal.

I will pay a fee if I do not continue with their plans(obv not perfect, but you get the idea).

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.

I've been searching properties for a variety of ideas for almost two years now and never pulled the trigger.  

Changes some of my answer below, but here would be most of the types of transactions you would have in these accounts and between them.Property transactions would be: all property specific rents and expenses, allocated expense transfer to the master LLC and transfers to master LLC bank account for profit AND/OR property management fee.Master LLC transactions would be: Shared expenses going out, reimbursements/transfers from properties for their allocated share of those expenses coming in, the transfers from your properties deemed as profit AND/OR property management fee and then transfers to your personal accounts deemed as owner distributions.Other transfers that could occur is if the master LLC needs to transfer to the properties for capital expenditures above and beyond the reserves you might leave in their accounts.

My pet fees are not.

BRRRR is possible in Greater Cincinnati, but just like everywhere else, at least properties on market, don't expect to pull all your money out.

.$400Baseboard (had it left over from another job so $0, but would have cost around $100)New interior door, wood studs, drywall, mud  $300Paint $100Dump Fees $500Misc stuff I’m probably forgetting $500TOTAL COST $12,500Rehab cost per square foot = $25

I wouldn't go for a condo, as the HOA fees and restrictions could affect your ability to rent it out, and the resale value will always be lower than a comparable SFR.

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.