I am looking to add approximately 1-2 homes per quarter and like the price range of 200,000-325,000. 

Does widely divided ownership in a realtively small real estate asset really make sense?

Your price range is very popular right now so wouldn't be surprised to see 20-100 offers on houses in these areas. 

I'm looking at properties anywhere from $50k-$150k, mostly searching around $100k (SFH or duplexes seems be the homes in this range), with total upfront investment of $40k max (down payment / fees / minor touchup / cosmetic rehab, if needed). 

With my current real estate agent and my driving local neighborhoods I stumbled across a family in NE that was looking to sell their 3 family home and had a realtor that had not posted it on the MLS - luckily my RE agent knew their agent and facilitated the deal before posting on MLS and I purchased at a low rate (considering).With all that being said, the area is expensive, you have to know what you want : meaning : property type,location( so KEY), price range, condition and profitability.

Typically around 2% of the sale price, but can vary widely....

I'm considering renting it as a SFH through Nomad (property management company) that can guarantee rental income for 2 years for a 5.5% fee and have given me a rental range of $2700 - $3100 ($2700 is the guaranteed floor, would be $2550 net).

I'm looking for your typical double wide or smaller house on a little plot of land with hopefully city water and no land or HOA fees.

I am fairly confident I can rent this out on AirBnb for around $120/night on weekends during warm months and $80/night midweek and get a fairly decent income from it - I'd estimate conservatively being able to net $1,500/month on average from May - September and $800/month October through April (would love to find monthly tenants, but acknowledge that won't be at 100% capacity during off months).I put in an offer for $40k, which is what I feel like the house is worth in its condition and location - there are a lot of houses in similar condition but with more square footage (this guy is just 650 sq ft) that have sold in the $20k-60k range in the last year.

@Louis Jeffries : I am going to look into getting a BPO ASAP.I looked at Zillow, etc.. but there is a pretty wide range on the estimated value.