Also, at those rents, a tenant could easily do many months of damages.

I typically use a $30 vanity light from Home Depot, but you could easily triple or quadruple that.

If you want to sell the 100K property, you can probably spruce it up a bit and sell to a retail buyer pretty easily.

A savy flipper however should be able to match those returns pretty easily.

If you walked away from every house with foundation issues in certain areas around Dallas,,you would never do anything,,,foundations really aren't scary,,now many I walk away from, but many are easily repaired.

People won't easily start being confident and selling stuff when/if governing party changes, and this is a city where a lot of people come to study and work.

Is there a way to easily get access to the MLS without having to rely on a RE Agent? 

I look forward to getting rich extremely easily and quickly, via wholesaling, fix-and-flipping and generating 5 figures of passive rental income per month whilst sipping on a cold beverage on the beach, all with no money down!

Does it make the most sense to create separate LLC's for each deal to handling the changing profit sharing, or would it be better to mention a profit split addendum for which we could modify easily(?)

I could easily imagine a provided ladder could/would be used for less-than-emergency situation (e.g. changing light bulbs, installing decorations, epic rail shots, etc.)