You know the good areas and better understand the rental market.

Sure, I understand that.

Imagine you bought a property for $2M.

The land (excluding any structures) is valued at $400K.
Since land is not depreciable in the eyes of the IRS, we subtract the land value from your purchase price to get your ...

Seems like a great way for rehaber to make the financials look any way they want.I can think of a few technologies that might help track income and expenses across projects that don't involve saving pieces of paper / invoices / pdfs :)  

But I never understand why someone hands over 10k before a job even starts.

At the end of the day, I understand you want to keep a 4.5 or 2.5% mortgage however if you come to find out that by accessing those funds via a second mortage, your overall payments would be higher, it actually might make sense to refinance and use those funds to invest. 

If looking to scale flips and create systems around it to minimize your time and involvement, I'd highly recommend putting a team in place that can handle the day to day operations. 

Just so that I understand - The Operating Agreement does list who owns the LLC (at least this is my case).

And you are not using the correct terms which is understandable but makes it hard for us to respond.

After all if you get the deal done, you are creating more opportunity for everyone involved!