This one is closer and the earning potential is a little more clear.

If I set up my LLC and then tax it as an S-Corp I think that this will reduce the tax, but to what percent?

Instead, they offered to the reduce the price by $13K.

You will be splitting earnings, but the education you will get will be worth it. 

This reduced uncertainty will modify the results of the model and you start to hone in on your most likely result.You can build very elaborate models and monte carlo simulations can help analyze the results of those.

Equity reduces your return on investment it does not increase it.

tell everybody what you do and ask them if they know anybody who would like to earn 8-10% on their money flly secured by real estate for a short time. 

It is not easy to find good deals or at least margins are reducing (between higher purchase prices, higher property taxes and higher interest rates).

We got the house we wanted in the town we wanted, made some very minor upgrades and benefited from good ol' fashion California appreciation.Also if wanting to reduce your risk and exposure on your first BRRRR you could partner with a friend/family member.Lastly there are some more affordable parts of California or for your perhaps AZ that while long distance may be close enough for at least a few drives to the area to meet face to face with folks and get a feel for the market.

Encourage them to provide candidates so they can do the leg work to reduce their costs ...If they have a job and good credit then they'll want to to avoid trashing the place and a small claims judgment.