Keep in mind  Jacksonville is a different scale of magnitude than other cities.   5,980 Roof  2,350 Siding repair2,950 Ext paint 350 Screen replacement 180 Window screen600 Hot water heater 500 Appliances used 135 lights 450 Bathroom repair2340 floor 1800 floor 1300 carpet in bedroom 375 electric150 smoke detectors350 Ceiling repair 250 Touch up paint 200 Misc caulk 100 sink 125 garage fix 375 plumbing repair 175 Window    21,315 total 

On the other hand, another expert thinks it would be cost prohibitive to find and keep good tenants, even if I fixed it up completely to current standards for the area based on the location. 

I’m a fix and flipper in Colorado.

Based on the Sq ft $, once fully fixed up would be worth about $80k.

I have heard of this model being used as a risk management strategy (keep no money in the PM LLC and if you ever got sued over a PM issue hopefully your agreement between your LLCs shelters the Property Owning LLC (and the equity in the properties) from the burden of the lawsuit. 

It mostly depends on your goals which model you should join.I'll send you a PM.

Sorry, I know there's a lot of material out there on this topic but I still can't seem to make a decision on what type of business structure makes the most sense for me.I'm just starting out, but my plan is to start out with wholesaling and "fix and flips", and eventually get into buying rental properties.

Then I would make sure the house is-1. water tight - fix the roof2. all working parts are still working ( water heater, furnance, ect) and no exposed outlets or wires3. broken windows4. tight doors5. no flaking paint exterior or interior6. flooring - safe to walk on7. fix or remove rickety outbuildings8. pleasing to the eye from the outside ( well trimmed shrub & trees)This is what I learned on my first buy and it just cost me 3 returns of the appraiser to get it right.

Assuming we are talking single family, very limited exit strategies/investor pool (high-end rehab/flip, STR/airbnb, rent by room model). 

First I broke things out into fixed and variable expenses in my business and also my personal expenses.