I was hoping I could get some more general information on how this whole process goes and to inform myself on the pros and cons given im a newbie and don’t know much.

Obtain the necessary insurance as well to guard against any hazards or damages that may arise throughout the renovation process.6.

Sounds like you're in the scale/harvesting time so I think you need to determine if this property is something you are happy with the cashflow it would produce as well as the time needed to manage it or hire a property manager, or is it time to take the equity and redeploy it into something more worthwhile like a higher cash flowing investment or creating higher equity in the home you buy down here.

I’m in the process of opening an LLC to get things started and exploring the best approach to enter the market.

REI is a long-term venture; if you cannot hold this will be a very difficult process.  

In the long run, I want to have properties that are producing strong cash flow (eventually would love to own small apartment buildings and syndicate larger deals), but it seems that focusing on cash flow and reinvesting those cash flows will be a slower process than focusing on properties prime for appreciation or with opportunities for forced appreciation.

Quote from @Michael Overall: Good day, If an investor has 10 rentals and wanted to over time sell them and put the money tax free from a 1031 toward a large purchase is there a process to do that? 

Any insights would be greatly appreciated as I navigate this process. 

Real estate is transactional where people are involved so it won't be a black and white answer.The best to do is to find an agent that fits your needs and guide you through the process.

Be careful not to violate any Fair Housing laws during this process.