My initial reaction is to tell you to get your head examined, but as I get older, I get kinder, so I’d like answers to the above questions before I tell you to get your head examined. 

  :)   Or marry a full-time Realtor.Are you going to run a syndication or just give them money to invest?

Are you thinking this new cycle of higher rates is at its peak and we are going to head back to the 3%-4% range?

You hit the nail on the head...

In short don’t walk away, RUN. 

Right now I still have arbitrage leads for my LTR listings and I always ask these prospects to run their numbers more carefully before they sign a lease with me.

Whoever taught you that I would go to them and do what they did as this setup for an ownership structure in my opinion is far to complex and your CPA is going to be scratching there head at end of year with all the tax stuff they will have to do and how you have to keep bank accounts for each entity and move money form one to the other to the other....

I can say I've moved to STL about 5 yrs ago and I was at the gym right by the McDonalds/ Lindell Blvd area you're talking about and I feel safe and have not run into any issues there.St Louis is street by street - it really depends.You'll be able to rent it fast there due to it's location, I'm certain.

Make sure you run your numbers higher. 

Without knowing more, just based on what you said, you are in WAY over your head and will keep digging a bigger hole doing what you are doing.