Based off previous property taxes payed by the family member, we estimate the property to be worth roughly 100k once livable.

It's scary, money is real, and you have to run your own race based on your circumstances and finances. 

Our group is based in Melville, NY. 

I am based in san francisco but pretty open to investing anywhere across the country - as long as it's a good opportunity in a good/profitable area.

To add insult to injury, every company I’ve asked for a quote based on the quote I got from the first vendor, wants me to pay another several hundred dollar service fee to come out and look at it themselves.

During value add the value would decline if based on cap rate and NOI due to higher vacancy.  

I am a first time home buyer looking to purchase an out of state investment property through a newly formed LLC (I am based in NYC, looking to buy in Ohio).

Many sellers are having to make huge price cuts to sell flips and/or new construction, so be careful there.With your buying criteria, Daytona area is still a great market with strong numbers. 

Based on your questions, here are some insights that might help streamline your financial arrangements and improve your system:1.

I'm based in cape coral and have majority of my portfolio here... you are right on cashflow and I will add appreciation and population trend is planned to be increased due to this city is one of the cities used as an outlet of miami, Orlando and Tampa since they are too expensive... happy to chat whenever you want.