If you can no longer get the returns that fit your criteria, then it would make sense to expand in to other markets. 

@Jay Hinrichs Believe it or not sir people don't always do things expecting something in return.

Eventually, I would like to supplement enough income to scale back to a 40-50hr work week at my job and break away from the turnkey side of it to further maximize returns. 

Im trying to sell two investment SFH in Florida on the coast that are only returning about 5% (net income/property value).

If I do use the LLCs is there a way to avoid filing tax returns on each one?  

Once you have your first, second and third deal completed you will have learned enough to shoot for better returns.

It may not, however, be the highest and best use of her 401(k), which could be invested and generated tax-sheltered returns at a higher rate than the interest your wife will be paying into the plan.

Because I'm raising this extra equity up front, my cash on cash returns are lower than I'd like in the early years even though my cap rate and project IRR are where I need them to be.2.

I put 25k in repairs to just have a number that would show a cash on cash return and cashflow.

I look at the Gross Income and then do 50% of that to = NOII look at the purchase price and do 7% interest to figure out my Debtand then I subtract.Example: $2million purchase price300k Gross income150k NOI140k Debt= 10k Cash Returns a year