Then it really grows with each additional one. 

These are professionals with additional training and a stricter code of ethics.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Additionally, I'm working with the RE Ally Property management team, who was able to find a tenant to rent at slightly above market rates without any vacancy.

In addition, due to the 2 of 5 year rule there often is no need.  2) you cannot 1031 a property that has not been put into service to be an investment property 3) you cannot 1031 a flip.  

Additionally, based on your numbers, it should definitely cash flow. 

In addition, you want a separate bank account for the rental property to separate it from your personal accounts.

Additionally, I have $100,000 in cash in the bank, and my monthly expenses for my home and family are around $3,500.My wife earns between $100,000 and $120,000 from her W2 job, while I've recently lost my job but found a new one that pays $65,000 a year.

I would bet the solution lies in your answers to those last three questions.

Additionally, his credit is not the best, and he has limited funds for a down payment.Any potential options or solutions that may be available?