You might find out you would collect more money with a PM than you do managing yourself.

My concerns are debts that weren’t paid or charged off if it was recent and especially if it was property related (utilities, rent, etc).  7 times the rent just means that make a ton of money and spend a ton of money.  

A/C vendors make a lot of money on spread, so keep asking. 

-Will my father be able to transfer money into the LLC/Trust account without it being seen as a gift?

You don't have enough cash and your plan is to borrow money on a project for which you are not capable of developing a realistic scope of work and budget.

Save the time and money on beautiful floors for when you go to sell.

To me, low credit is not an automatic no but they really need to have a solid income and money in their bank account.

So even if the ARV would be $240,000 and could rent it out for $2,000, I would leave money on the table?

bought a condo with hard money. 

Or rent out, refinance , and recoup money else where knowing what I know now .location: southern Florida.