The home is in semi-rough shape... liveable (barely), but certainly not rentable. 

I inquired about the possibility of a two-company structure: A traditional LLC that is the public face of the activities (collecting rents, paying contractors, etc.) and managing the Series LLC with each property in once cell in it (in this case, Series LLC is serving as a holding role).Again, one attorney said that would be much better than a standalone LLC and that is recommended approach, and the other said it is waste of time and money since there are some requirements from Texas Real Estate Commission, which is requiring being a licensed broker in the state to operate in the managing LLC.So, just want to hear what other Texas investors are doing when it comes to series LLCs regarding these issues. 

At face value, it sounds like you believe that some of the operators of MFH that have purchased in the last 18-24 months may have to cut losses next year providing new investors a much better deal.No.....

There's a very good chance the issue(s) you face have already been discussed and answered.Ask questions in the appropriate forum.

@Stephen SmithReno's multifamily/commercial market faces challenges like limited inventory, high demand, and high entry costs.

Lets face it, the higher the yield normally the higher the risk. 

Quote from @Luis Pereiro: Quote from @Jay Hinrichs: what position that's an important factor.. bare land notes generally sell for a 20 to 30% yield. 

It’s so serious that, beginning January 1st in California, any lender who knowingly originates a consumer-purpose loan misrepresented as a business-purpose loan can face criminal charges and jail time.

Let it roll off and move forward with purpose.Now, Here’s Some Logical Advice:Wholesaling is straightforward, and competition won’t be an issue if you do it the right way.If you’re cold calling, sending mailers, and doing what everyone else is doing, then yes—you’ll face challenges.

well I have seen predatory.. this is described by folks selling homes that are worth 30k to someone else for 90k  and having done NO WORK  thats predatory on its face.