The value add on this deal is in the MANAGEMENT and OPERATIONS.

Where people can get into trouble is when it comes to "self-dealing".

The fact that such huge portion of currently sold homes are cash transactions means a ton of foreign cash, hedge funds , holdings and investment management management firms like Black Rock snatching those properties at highly inflated prices.

Can you manage the property or find a buyer?

Active management, however, can be seen as employment, which you might not be permitted to do.Forming an LLC: Forming an LLC itself is not typically considered employment.

I am a licensed local property manager in the greater Asheville NC area and looking to  locate PM's in the area who may be looking to retire from the business and sell their book of business. 

That is definitely your best bet... they will help you connect with a property manager, attorney, and contractor if needed.

With Fidelity you can also invest in their Zero Funds which don't charge management fees.

It may be better, but not worth my trouble.  

The trouble isn't getting started with the capital that we have - it's the need to replace an entire income in such a short amount of time.