They typically have the best deals on standard building materials. 

I'm sick of replacing carpet so I started using laminate wood flooring in my condos. A tenant got some water in or on the floor and a whole section of it buckled up and had to be replaced. Is the vinyl wood-look floor...

A LLC is an entity, separate from the parties pulling the strings, that protects the owners from liability individually.

Feel free to point me to some relevant material or any material you think new entrants should investigate. 

The length of time will impact whether it makes more sense to ROFR, to worry about factoring in potential material shifts in appreciation, etc. 

@Charlie Rushton great string to read

The materials vary but labor costs vary as well.I usually assume $10 dollars per sqft (interior livable sqft) on a very light cosmetic rehab that would only be some flooring, cleaning, paint, change of plumbing fixtures, possibly some appliances, and kitchen hardware, along with some new trim).Once we get to redoing the trim and doors and new kitchen it can get up to 20-30 dollars per sqft or more depending on the grade or level of work you're doing (low end, mid end, to higher end area).Most of my experience has been with upper low to mid range rehabs and rental grade rehabs focused on getting the highest rents, with the most durable materials I can find, delivering the eye candy, but not over spending either.So I guess for you it will depend who  you're catering your rehab or repairs for.

Yet I am relatively new at this, and I get the impression that he strings me along.

Do upscale homes use some sort of upgraded wood or other material for modern cabinets?

After you cut the yard and landscape (not landscaping to create curb appeal is not an option), pay for utilities, touch up paint, clean carpet in bedrooms (hopefully you don't have carpet in high traffic areas), fix some odds and ends, your labor and material cost will PM mark up's will be at least $1,000.