Seems as though it is pretty complex to ensure everything is done legally and correct.

I've ordered the BRRRR book from BiggerPockets, and I've listened to BP Episode 327 where they do a BRRRR deep dive where David softly advised against this (@ 1:19:48 in BP 327) because it wasn't efficient, but I wanna learn more and see if it would be a good-enough way to get into real estate for someone in my position.I'm estimating that by the time I'm ready to buy--November 2022--I'll have $70,000 (not including my emergency fund) in cash for everything: cosmetic-only renovations, initial down payment, closing costs, etc.

Many questions: What kind of legal agreement would you recommend to lay all this out and ensure a fair and transparent agreement?

Are you paying the utilities, if so install energy efficient appliances/LED/low flow water spiciest.

It's challenging not having complete control, and not being able to ensure deadlines are met.

Improve my processes and make me faster and more efficient, I think what I am really looking to do is flip here in San Diego but take the proceeds to another market that I can find cash flowing properties. 

Lots of opportunity in this deal by just adding management efficiencies.

This structure obviously places the manager in the position to ensure compliance with IRS guidelines (which is fairly easy, and important in my opinion to fully understand regardless of "typical custodian oversight"). 

For example, flipping a house takes considerable time, effort and resources that would make it challenging for part timers and out of state investors to ensure contractors are doing the correct work and timelines are being kept.

It is flood zone x and I also need to perform ensure that the property is actually renting for what they say it is.