I’m thinking about buying a property with a friend of multiple units at least 6 units down in Florida.

Don't go find one agent- start building relationships with multiple and express your interest in off market deals.. doing all that you can to establish some feeling of credibility with them.

After running the numbers conservatively, multiple times, we are right at $200/mo cash flow.In either case i'd love to know what you all think. 

He has multiple properties with mortgages all insured for a little over what the ACV is. 

I’ve read on multiple old posts that there is no need to create an LLC until you have a few deals under your belt (I’m sure they are referring to the aspect of shifting the liability off of you) curious how this works come tax season if you also work a W2 job (as I do and plan on doing) where your gross income from a property would be say 12k for a year but your net income or cash flow is only 1K.

Yes for wholesalers you can give sellers multiple options to wholesale or list, for investors you save a lot of money on commission if you are buying or selling multiple properties.

It will most likely take multiple contacts (letters, phone calls, etc.) before getting an agreement with someone. 

Once  the rehab is done do you have multiple ways to go.  

Obviously, our combined income could obtain us a decent loan with a down payment on a house, but for multiple properties, I am not sure how well we would fare.

Neither is innocent and I’ve told them both multiple times that they need to act like adults and be respectful of the other (music and noise to a minimum during the day and nothing at night as stated in the leases.)