I did the analysis beforehand taking into account the managment fee, vacancy, capex, repairs, mortgage, etc and it still came out above my monthly cash flow requirements.

You will hovewer have to issue a new warranty deed, creating some filing and stamps fee.

I can see the value in centralizing them and utilizing one solid management company, but 10% in SoCal is the same as 10% in DFW in terms of management fees (not saying those are accurate averages).

It's very cheap here in South Carolina ($110 one time fee), but I hear California is quite expensive and includes yearly renewals.   

.- 1% transfer fee when buying property paid for by the buyer.- Inheritance tax. 

I offered $6,000 (after all back payments and fees) and he accepted. 

Yearly rent is 72K and paying 28K payment (include taxes and ins.) plus 7200 in management fees.

Instead of looking at the "equity" (which only makes sense if the market continues to rise and doesn't drop) look at the fees/monthly payments and how comfortable you are with paying that amount (even if wholesaling business slows or your house is suddenly no longer worth the mortgage you have on it). 

During the election, Florida also voted to require a 2/3 majority vote on any tax or fee increase proposed.

You then use the LLC for all transacting and are not hampered by the paperwork, delays and per-transaction fees of the custodian.