It would be highly recommended once you have several properties to have them under separate LLCs so the liability is held separately for each property with each LLC, this way if you were to get sued, they can in theory only go after that individual property under that specific property being held.As for the taxing of LLCs, they are typically looked at as Sole-Proprietorships or Partnerships depending on if you are the only owner or if you have a business partner.

I am looking to donate my time to any experienced flippers out there in any way I can in order to gain more experience and hopefully soak up your knowledge in the mean time.

Nice fat check at closing.

You don't get anywhere near the leverage in multifamily that you can in SFH.

Find syndication conferences you can attend to learn as much as you can in 2-3 days.

I try to go to every meetup I can in Columbus, Ohio.

And, don't forget the new people they hire will start with a much lower total compensation package and when the time comes, they will let go those people that started with a fat Bay Area salary.I don't disagree with you that a lot people will move out of Bay Area, but at end of day, people like SF Bay Area/New York, they will always be the hubs of the world at least in next 50 years.

I suggest that whichever way you go, get experience and education on how to do that type of transaction the best you can, in order to limit mistakes and to get good at how to put that type of deal together. 

In a small town you may have a higher vacancy rate due to less demand, you may not get the kind of rental appreciation you can in a larger town (although you NEVER want to bet on appreciation).

Now you got me thinking about my use of time, production and value /hr in a triangle floating above my head with a fat zero displayed in the center lol.