I’d much rather be in his shoes than the person with 50 doors and barely any profit.

When considering these surfaces, know that the rock can get stuck in the treads of shoes easily and they will destroy vinyl and wood flooring. 

Your biggest "issue" is that you have $150k tied up in a house that even with your numbers only nets you $500/month.

especially if your looking for contractors that do smaller reno rehab type work.. those guys are shoe string and very un realiable.. this whole BRRRR thing that is done on BP while it works for locals and those in the industry is so dangerous for out of state folks.. it can work but you can also lose your butt 

While rent isn't all that much cheaper, I don't have to tie up a huge chunk of change as a down payment, and thus have been purchasing property out of state like it's going out of style.

@Michael Sontheimer if he can't show a contract tied to his lease that proves he has the right to do it, then he doesn't.

Try to put yourself in their shoes

Tie a cinder block around their neck and toss them in the ocean, lake or river; depending on where you live.

It directly ties the holding LLC to the tenant...probably not what you were hoping for right?

I am currently building a cash buyers list so as not to risk tying up a property only to not close in the end.