Lastly, our long-term goal is to continue to acquire properties and build a strong base of passive income to help pay for our children's college and gain financial freedom. 

The main reason it needs to be a "single member" LLC is simply- the replacement property must be acquired by the same taxpayer that disposed of the relinquished property.

If you acquire a property, from a Wholesaler, once the property is rehabbed and ready for the Retail Market, allow the Realtor that provided you the zip codes, to list the property for sale.

Looking for advice on rental rates, average/expected returns in this area and also anyone who might be interested in partnering or acquiring either of these contracts from me.

I am not sure exactly what you are looking for, but if it is to acquire properties make sure you are doing your due diligence and know the fair market value for selling, ROI if utilizing buy and hold strategies and know your repair costs.

Rents in the $900+ range, $700 range for MF as well as pretty high demand for retail and office spaces.As others have stated as the market continues to improve the cost to acquire these properties is continuing to rise.

Start by acquiring 2 to 3 units and occupy the units you purchase and learn how to manage your business and your paying customers.

It was going to be mostly sweat equity and I figure we could have it ready to rent by the time we had $15,000 total into it.However, our target area changed after we acquired it and we decided that this property didn't "fit" anymore and we're just unloading it.

It cash flows like a monster and it doesn't cost much to acquire.  

I currently have a mortgage on a Townhome and am looking to acquire a second home,  I will be renting out the townhome when we move into the new home for almost double our current mortgage.