I can only speak to Milwaukee, but on average the three distressed properties I have purchased over the past ten years have appreciated an average of 200% all while providing steady cash flow.  

So @Mike S. is providing the perfect solution for you. 

Where to get the most recent and accurate data for things like:Unemployment dataPopulation growthJob diversity and top employers in the areaVacancy rates (eg huduser.org)Property taxes and jnsurance costsI saw bp pro and reventure and a bunch of other websites provide some of this data, but i wonder how accurate and recent it is.

An LLC when properly formed and administered provides separation and protection of assets that are outside of the LLC from the actions of the LLC.  

I got a lawyer at the moment but they don't see to be too great regarding evictions and kind of unsure about the whole situation so will see if George Gibbs can provide some clarification on it.

I will provide useful information along the way, but getting subscribers is the number one goal, and to that end, most of the talking heads are going to make investing sound FAR more sexy and lucrative than it really is.  

If anyone has done this type of project before and has a detailed/itemized breakdown of project cost (invoice), I would truly appreciate if you can provide me with a copy and any guidance.thanks!

I was thinking if I can talk to my neighbor about sharing the cost (I, the landlord, personally provide labor and my neighbor provide material (e.g. fence pickets)).

When you say they were incompetent can you provide more feedback for novice investors. 

Even if one has to provide the education to some of the parties as to why a particular creative solution makes a win-win-win for all.