Defiantly not worth your time or effort.

I heard, the best way to do it is opening & closing a LLC for every project (every house we buy-fix and sell) we get, however I feel this is too much of effort and cost.

I agree with Dave if you're going to put in the work and look for funding you might as well maximize your time and effort. 

Are you prepared to put in THAT effort? 

I feel it is important to express to the home owner that you have a genuine care for wanting to help the home owner resolve their debts.

I am all for saving money but put those efforts towards better purchasevprice negotiations, better discounts on supplies and contractors and finding more deals, let the agents do their job (while you watch over them closely).

If there is some coordinated effort among developers or incentives from the City for increased development in the key areas, the surrounding neighbourhoods will benefit from the spillover once the key areas reach critical mass.

The size of unit has less to do with the effort managing the unit than the number of units.  

I learned a ton and they made money off my efforts.

I've made the concerted effort to be an educated investor about my retirement and passive income.