Single-member LLCs are disregarded entities that flow onto the member's return, not separate returns, multi-members are taxed as partnerships, and any can elect c or s corporation treatment.

C+ or better neighborhoodsC.

There is insufficient information here, or in the advertisement, to determine if this is a deal or not.In what kind of neighbourhood is the building located  {A, B, C, or D}?

I'll bet one of these days HGTV will offer you a new reality show, "Bed-time Real Estate Stories with Andy and his Kids"!

Here is the system;Name: Turn-keyMeaning: fix and flip business with a secondary business of property management, construction/rehab, and retail sales.Game: get financing from several sources, get property in C+ or better neighborhoods, fix for rental, price home to fit needed ROI of target investor-type buyers.Secondary Game: offer property management until growth of property management business is profitable.Extra profit center: Some end buyers will be disillusioned.

Personally I am placing a bet on a big downturn in Bay Area single family residential.

They're stuck...I would bet on Multi-family along the path of the new trolley system, specifically bay park area.  

You won't owe her anything beyond that initial advise unless you feel its warranted to continue to use her services).The deal structure questions should be presented in the format: If (A) and (B) apply to a potential transaction and don't work out like originally planned, and I insert (C) or potentially (D) how does that impact the risks to me in the deal (from a legal perspective not necessarily an economic risk; you as an investor should know the economic risk). 

Should I bash two halls in the rear of our six-unit brownstone for through wall A/C or install a mini split system?

I could be wrong in 15 years, but willing to bet on it today.