Also, what is the purpose of "pending sales" when determine ARVs?

Close it in your personal name and transfer to the LLC post close.

They are a scam, and no longer close loans.

If you jump into something before doing this - you're highly likely to get taken advantage of, or at best waste your time & money.Can't help with a coach:(Do recommend investing close to home if you can and then screen the heck out of PMCs with your expectations & goals to hire a good one.Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I’ve already made some calculated evaluations in terms of the expected operating expenses, the mortgage, closing costs, and a 20% down payment. 

Always do thorough market research to ensure your projected sale price is realistic.I'm also a fix and flip lender so I can answer any questions you have and give you a quote once you're ready (Always get at least 5 quotes for financing)!

If the Seller agreed, there would be some closing costs, and the wholesale fee to comeup with.

I like to buy close to turn key as possible.

I do not know how close your friendship is, but I would advise you to exercise extreme caution.

I don't think the new owner is under any obligation to refund anything unless its specifically documented ahead of the close.