Do my 3 associates need to create a LLC to be able to do these renovations or can any individual do them, as long as proper permits are pulled? 

I'm struggling to understand some aspects of your response, but it provides some things to think about.

. - See our copy & paste advice at the bottom of this response.2) Managing the Renovation- Everyone thinks a PMC can easily do this. 

Each individual owner can have their own Deferred Sales Trust™, the assets of which can be managed to each taxpayer’s own individual risk tolerance and preferences.9) Net rental income.

Personally I like 1 savings and 1 individual checking for each property.

. ;-)If the seller tells their agent not to bring certain types of offers to them, the agent is obliged to follow their instructions.However, I've also been told that an agent has a fiduciary responsibility to present all offers if not told otherwise.

I am making completely passive cash, while also seeing the value of my portfolio increase with no headaches or management responsibilities that usually come from SFR ownership.

I have yet to get a response as to how to proceed.

I call it that because most commonly the listing agents call me and says "you mother f...." to me in response, lol. 

The answer is NO, based on the language of Section 152(c)(3)(A):...an individual meets the requirements of this paragraph if...