Any help in deciphering the method to this madness would be much appreciated! 

I have been using the brrrr method for years and have been recycling the same funds for the past 10+ years.   

Which methods have you used to obtain properties?

What is your method to calculate repair costs and ARV from a listing on the MLS? 

Bad faith from the start, poisoning the business relationship.The second point is that getting that security deposit is usually done in times of need by a cash advance on a credit card, a private loan from a friend, a high-stress method to begin with.

For property management I would love to discuss some details with you, otherwise there are numerous other managers in the area.

It does seem to me like the Deep South is a difficult environment but I'm sure there's a method.

You can make money via real estate in numerous ways so evaluate your own skills and goals and map that to a real estate strategy.

What are reasonable cap rates I should plug in for a fast estimation on their values using Michael Blank's 10-min method?

Regardless, there are numerous factors that would affect a correct answer to your question.