We created a shared housing model that is now producing 10% to 16% returns on the back-end and almost obscene returns for our front end partners.What is everyone else doing?

That certainly doesn't mean go find the top producing agent in your area and work with them.

As a new agent, my goal is a sustainable and healthy long-term strategy but I'm also trying to secure as many listings as possible.

With values in the $200 K range your market rents are far to low to produce any positive cash flow..Sell and reinvest the money in multiple better properties.... 

This is also our niche, i.e. buying substandard houses at low prices, full rehabs and healthy rents with minimal capex for a long time.

Take into account you have to pay insurance and a general power bill, have someone who collects rent and facilitates move ins but still the number could still produce some serious cash flow.

If you invested $55k in a portfolio earning a healthy 8% compound interest, you'd get to $1M in just under 40 years. 

With the housing market beginning to normalize in Southern California, healthy transactions are starting to occur.

@casey (seems using mobile doesn't produce our name drop down box...)  

That being said I think your 143k reno budget is a healthy one and should be fine in almost all cases.