They have been performing beautifully.

Welcome to the site Thanh.Your 1st step would be a sales license.Prior to obtaining a brokers license you would need to be licensed for at least 2 years and perform 40 transaction sides as well as complete 2 years of college with some specific business courses included in the 2 years of college.

I will be partnering with a local contractor who will perform the work as a subcontractor of my company.

It used to be that maybe 10% of that last 1/3 were sold to third parties. 

It didn’t perform as expected.

They discuss deals, help each other perform due diligence, give opinions, etc.

I'm a new member  looking for like-minded investors in Indianapolis to learn and work together on Wholesaling and investing in turn-key properties and both performing and non-performing notes. 

For a third, I can't touch 1.2% rental yield in SoCal these days (maybe 2009, but not 2015), and would need to put something like 40% down (or LTV over my entire portfolio if HELOC used for cash purchase) to even cash flow (which is the price I would pay short term for that "insurance") or accept negative cash flow (definite no-go for me) for that 1 year + 1 day.

Also, find someone willing to pay you to learn the job and skills they want to perform.  

Not only is RE local, your portfolio performance will vary with types of assets owned, quality of management, and your local market.