Going to guess the $797 is rent only, with tenant paying utilities.

I guess the well has run dry.

My guess is that it could be structed as one person handles everything locally 'boots-on-the-ground', and the other acts as the investor.Has anyone see or done deals like these?

.$200 mo on a $150k house is ok I guess.... 

Guess what, it ALWAYS is.

My ideal location would currently actually be Augusta, GA because I really want to start somewhere with a very low crime rate. 

Now purchasing a home with cash is always good b/c obviously cash is king but also I think the part you might've missed is that, the money your utilizing on these home's won't actually be yours, but the banks or whatever institution you used to fix the home or make its value worth more.

In addition to this, I've had 2 clients this past year tell me they used Airdna in '22 and '23 to see projected and estimated income and was drastically different than actual income made with very comparable properties. 

It's hard to guess how soon regulations will become effective.

I'm going to guess you've never actually hired another human being to do turnovers for you.