If LL uses accrual method, they can book revenue without receiving.  

There is no 'per square foot' method that is accurate....At least until you have quite done a few.... 

The straightforward method is to do everything yourself, as in my example above.

Also make sure you have quality insurance with an umbrella policy.

And, there is every possibility that I am able to assume quality debt if I am a low-leverage purchaser.

I now currently work for a PM in Milwaukee that has the same focus as you, to provide quality property management and we have prioritized quality over quantity as we have grown our business.

It’s a short dead end road so I have this notion to own the whole street and control the look and quality of the neighborhood . 

Dayton could be a good alternative, offering similar price points.To narrow your options further, consider factors like population and job growth, cash flow potential, and the quality of neighborhoods you’d feel comfortable investing in.

Yes, you will likely pay close to or at retail value if you are buying a quality property that has been properly renovated. 

If you're looking for a great way to find off-market properties with less competition is by using a method called Driving for Dollars.