The Salt Lake Valley is trapped between the Wasatch and Oquirrh mountain ranges.

Just to be completely honest, 35816 is indeed a rough zip here;  but just like 35805, there are always going to be pockets of it that are better than expected;  however, I hope your realtor provided you a good target range on the rent, because even if the house is located in a good spot, a lot of potential tenants won't search 35816 for nicer rentals;  what target rent range did your realtor quote you? 

I have been looking at flipping a very low end property with a price of 6k with and ARV range from 40-60k.

My thought is if you can convince them to finance the deal,  increase the down payment a little and have your term be something a bit shorter, maybe 3-10 years (big range but up to you).

The units range from 350-600 sq feet and we are in our inspection period. 

Louis You will not be able to find returns in the 20-25% range as a passive investors.

I was looking at a price range of around 350k and the bidding wars are crazy!

How to simplify entities to ensure clean accounting books and maximize property attractiveness for future lenders and buyersI realize these are somewhat different specialties but would prefer to consult with someone with a comprehensive understanding if possible.

Total of reserves and PITI is $1250 range.

My suggestion would be to find an area you like that has homes in that price range and focus on finding a house you like in that area.