We always hear that our rental is one of if not the nicest they have seen in their price range. 

Fees charged for the LLC formation are often in the $800-2000 range plus filing fees.If you are eligible for a Solo 401k, all of the above will likely be replaced by just a setup fee and an annual fee to the Solo 401k provider.

We told her that we were interested in beginning our real estate investing endeavor, told her our market, and price range and she went to work for us.

That means you are not in an "A" area no matter how you define it.I would say homes in the 190k to 300k range are going to be closer to what you are discussing and thinking as top class investments. 

The deal she described was out of my range and I decided to pass on the spot. 

If the property is in my target area, within my price range, and I can create value I buy.

My wife is a real estate agent and has a former client (who she sold a home to) that has tasked her with finding 3 new construction single family homes that he can purchase around the Atlanta area in the range of $300k - $375k apiece.

There are high rise condos being built in the major cities that range from $50k up to $800k. 

In some states recently, courts have ruled that as payments are being made by borrower, he acquires some additional rights and at some point, when the borrower has acquired a varying amount of equity in the property - usually in the 20% range - he/she is to be treated as owner and then the eviction has to be done through a foreclosure, but until such time (it is different in different States) , the borrower is legally considered a tenant.

However, the realtor kept showing homes that were way out of my price range.