As for the legalities of setting up an LLC to protect you and your partners, I would consult with an attorney for best judgement. 

Namely, that if a tenant (in this case accompanied by a whole family) ends up stop paying rent and I would be on the hook for both covering the mortgage and dealing with open ended legal costs and time.

Currently, I have 11 doors under contract. 

Well, what would be happening is that your buyer would be buying your house subject to the existing note, since you can't legally sell the property without paying off that note or transferring the debt to the new buyer.

Quote from @Tod DuBois: Another Furnished Finder POT cancelled on me after I went out of my way and paid to review them on Key Check and signed up for Key Check contracts, made two contracts, allowed a pet and still, two days before the check-in, they did not sign.

These repairs are through a contracting company owned and operated by the PM. 

My client recently got under contract on a BRRRR that is purchase price $245k, rehab is $35k, and the ARV is $350k.

I’ve visited every other property I’ve considered in the past, so this is uncharted territory for me, and it feels a little out of my comfort zone.I’m considering putting it under contract sight unseen to lock it up, but I don’t want to make a rookie mistake here.I'm looking for some advice here.

Not that it really matters.No institutional lender will give someone a loan that doesn't have:1) Credit history2) A social security number3) Income3) Employment historyYou'll want to research Wholesaling and Land Contracts.

The City seems open to it as long as the contracts are structured the right way.