This includes owner-paid utilities, maintenance, repairs, capex, advertising, legal fees, etc...

I am going to include my real scenario with as many specifics as possible so I can get the most detailed advice, I could use it. 

@Kevin Polite I'm hoping they'll include the Apartments.com postings as a part of our listings similar to the Realtor.com and Doorsteps postings, the more connected listings the less work doing them separately. 

With that being said, do you all recommend a newbie like myself first learn the intricacies and math behind successfully flipping properties before learning the intricacies of wholesaling including marketing?

The company who set up my first LLC, included additional documents like certificates for members, minutes information, etc. 

Upgrades include refinishing hardwood, new kitchens/bathrooms and finishing the 1000 sq ft basement. 

@Eamonn McElroy is correct, as usual.The only thing I would add is that the net income from the SMLLC that the owner receives will be subject to Self Employment Taxes, which would include social security and medicare.

It looks like you are calculating based on cash on cash, but I'd think you'd want to include some financing/debt service etc stuff in there too.There's nothing wrong with buying something for cheap. 

Our current payment is around $1350 including Taxes, PMI, ETC.

Appliances included are a refrigerator, electric stove, above stove microwave, garbage disposal and dish washer.