Here's my question- in this arrangement, I think who procures the material is critical for tax purposes...if I purchase, and GC reimburses, then could that be viewed as income?

Most critically understand the deal breakeven point, when the collected rent will only basic expense leaving nothing for the LP.

Constructive criticism is welcome.

@Jude Cineas A critical part of executing #4 is finding a lender with short seasoning requirements. 

Previous articles that these two have written include titles such as:What does racial capitalism have to do with cities and communitiesPreserving racial hierarchy amidst changing racial demographicsLiving while blackDifferentiating the mechanisms contributing to persistent racial inequality of educationThe spatial structure of income segregation by raceColorism and police killings of black menMemory of Racial violence and the social construction of the Hispanic categoryValue fluidity and value anchoring: race, intermediaries and valuation in two housing marketsStudying race and religion: a critical assessmentWrote a book titled: Race BrokersIn short we have a real estate study conducted by two sociologists who have made a career out of finding racial inequalities at every turn. 

Is an LLC most critical for buy and hold deals where renters will be involved or equally as important for flipping deals?

We also show them how to use the shut-offs.Learning to work with tenants who may be uneducated and/or who lack critical thinking skills is also a necessity.

Ten critical mistakes and 13 months later, I was able to sell the property and be spared a slower death.

Overcoming this limiting mindset was critical for my real estate growth!

Additionally, having a good amount of reserves is critical to scaling since its expensive to own real estate hence you should at least have 3-6 months of PITI for each property you own in cash or a cash equivalent, e.g. a line of credit.