It seems to me that everyone/everything I read online is about success via leveraged investments.

I believe there is an online registry of sink hole homes, at least those with insurance claims.  

@Ryan Wilkerson put the money in the bank and keep it for operation costs..get our site up to date...host a networking event at your current flip...do not spend on mailers...let the wholesalers do that and you go find your own deals by networking with agents and searching online yourself. 

(They have online classes too.)  

I'm also looking to partner up with anybody if they want to Co-Wholesale, it'll be a plus if you already experienced in it and it helps me get more experienced in that area.Thank you.

In my market, most of the experienced investors won't offer on anything for more than 70-75% ARV including closing and rehab costs.

I will wait to hear from the more experienced pros as well.

Setting up an Operating agreement, can this be done online through a template or do I need outside help from an expert?

I'd be hesitant to use contracts you find online (including BP) without having them reviewed/edited by your own attorney. 

I'm thinking to do it online so I can complete it at my leisure.