You want to minimize the chance of being without a chair if the music stops (and having to chase the market down to sell).If you don't have a lot of experience rehabbing, which it didn't sound like you do, then I'd say it's safer to stick to a smaller rehab.

Every month he sends the payment after collecting their shares of the bill.

That's great advice because you need to be cognizant of Fair Debt Collection laws. 

I did fully close this property myself and collected rent for 2 months before selling the house.  

Make sure you verify the expenses to include getting actual financial data from the owner from tax returns and bank statements to verify actual rent collected especially since they were “generous” with rent. 

Initial $7,536 will be collected for materials.  2.

With The way  the non-advalorem taxes are collected the Seller of the relinquished property ended up with 189 credit and they were concerned with taking any cash as a result of a sale thinking it may trigger a tax event... so they opted to have that credit increase the amount of proceeds they received.

I was able to receive maintenance requests, automate rent collection and syndicate my listings.

The Recorders office collects various fees and how the fees effect landlords as we do multiply transactions.

I mean for as a portal to collect rent, screen tenants, and list properties.