Back to the OP… the FHA loan I applied for I needed to have at least 3.5% down payment to even start the paperwork, Which in hindsight should have been done after making the offer.

OP: “Should I buy Turnkey or do some other method that allows me to have equity AND get my initial investment back AND have cash flow?” 

Depends on the original OP’s REI experience at the time and what they have scaled to at this time?  

Quote from @Dan DiFilippo: @Philip Hernandez it sounds like if their were any agents involved, they really dropped the ball.If you thought you'd try and do this without agents, then I have 0 sympathy for you and you more or less got what was coming to you.You want the OP to be the first person to bring a buyer's agent to a wholesale deal? 

@Joe splitrockFor everyone commenting, this is turning into a really good forum on property management which in the end will be very helpful to the original op.  

Interested in connecting, looking for a STR myself in Lake harmony area similar to specs OP has.

The only deals with finiancing are some of the co-ops in astoria that rent for 2k but are worth under 500k.

The wholesale properties I get emailed to me, are no longer wholesale in my OP.

I understand that the Operating Agreement is an important document, but in a SMLLC that I will form in Wyoming to receive Charging Order Protections, it will only hold/own the KS and MO LLCs, should be a pretty strait forward Operating Agreement... nothing complicated, a boiler plate OP should be OK... like the one that one of these companies should provide or not?

I agree the OP prices are way too low, except for possibly the painting.