Yikes I am almost afraid to jump in on this one, however, I know Joe personally and he is not a scammer.

Just guessing the numbers.If we put down $400,000 together with an interest rate of 7% (it could be higher), then im guessing the monthly mortgage with insurance and tax would be around $3,886.If each unit rents for $1,500/month: Total Monthly Rental Income: 1 , 500 × 4 = 1,500×4=6,000 Monthly Expenses: Mortgage (PITI): $3,886 Maintenance/Repairs: $500 Property Management: $600 (10% of rent) Vacancy Reserve: $300 (5% of rent) Total Monthly Expenses: 3,886+500 + 600 +300 = $5,286 Monthly Cash Flow: 6,000−5,286 = $714We split the profit in half so each person takes $357 a month..How much should we be profiting from this in order to make it attractive to jump in? 

i have seen many do very well getting on a team.Myself personally I would concentrate on listings 1000%  Buyers only if well knownand wont waste your time. 

They specialized in concrete tilt up, but did a lot of time and materials work for a self made real estate tycoon who owned a lot of Federal Way.Along the way I got my CPA license and practiced in several differing sectors including doing some work with low income housing projects.As far as my start in RE, it was with buying my first personal SFR and later moving to a new residence. 

If @Drew Sygit doesn't have a local person for you, I have CFO clients in KC, MO that have used this firm: https://propertyvaluationservices.net/services/protest-taxes...

Personally I am thinking 1c.

Just keep in mind that there are further steps you'll want to keep to minimize the possibility that your entity is ignored for this kind of personal liability (say, if you were the person who didn't properly clear snow, or if your finances and the LLC's are comingled).And I agree with @Chris Seveney, insurance may provide adequate protection based on what's available to you.

The only person willing to lend me money was Paulie—a guy who charged a point a week and always had a baseball bat within arm’s reach.

I know of several excellent property managers in the North Alabama area that would service the Harvest area, including several that I've never worked with personally, but have a good rep in the area. 

The buyer of my property also suggested a person.