This is combined with money coming in over time (over the term) of the contract and ideally, it covers more than anything they pay out monthly if they have a loan. 

Like Dustin said up to you but ideally you don't have much to worry about.

For example: "Two Story Single Family Colonial Homes with at least 2100 sq. ft. within a 3 mile radius of the interstate without an HOA with less than $15,000 renovation that $450 cash-flows/month which I can purchase for less than $350,000 in the zip code 22407".Is $420/mth below or over your baseline/worth it/ideal cash-flow per door for your criteria?

What type of property, what's your end game ideally?

Ideally we would do it in NC, but can a NC LLC purchase property in SC?  

I think a member managed LLC is ideal as it will allow us to share decision making responsibilities. 

Ideally, if it were me, new homes put on lots would likely turn a better profit but I could be wrong.

They work fine but hog electricity and obviously are not ideal as a sole source of heat.

Yes, the seller hasn't been the most cooperative to deal with but that's why it's an ideal property. 

In terms of the goal, if I understand your second questions correctly, we would prefer to sell off all of the units, ideally by building instead of individual units, and retain zero ownership and equity.