I realize we can hire a property manager, hire people to do repairs, etc...but it seems like that defeats the purpose of a value add, as you are likely going to over-pay for these types of activities without having deep knowledge or connections in the market?

Long story short my own conclusion is to hold onto everything because by selling it defeats the purpose of what I want which is cash flow and not have to work a traditional w2 job.

I'm not big on trying one lousy piece of mail, admit defeat and move on.

So it completely defeats the purpose of using FHA money at all.  

This is snatching defeat from the jaws of victory. 

Does commingling the income/assets between your personal name/LLC defeat the purpose of the LLC?

In fact, there aren't too many supporters of it, so hopefully it gets defeated like Prop 10 did.  

The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”Theodore Roosevelt

In order to go through, I would have to pay the amount the seller wants first which defeats the whole purpose of wholesaling.

In order to go through, I would have to pay the amount the seller wants first which defeats the whole purpose of wholesaling.