As far as I'm aware sellers have no obligation to warranty the condition of the home after a sale so long as they disclosed known defects.On the upside, it doesn't sound like that extensive of a repair and likely one that wouldn't be worth filing an insurance claim for anyways.

Property #1: Found a 3100 square foot duplex that needed some tlc but for the right price I could afford the repairs.

I have no landlord experience and know that PMs usually charge 1 month's rent to find you a tenant and of course any repairs or maintenance that may ariseWith the following information, would it be better off to stay at my current apartment and just end my lease when it's time to take an assignment or should I purchase the duplex and possibly make extra income through cash flow and equity but also run the risk of repairs, maintenance, etc?

Am I able to structure a loan where I just borrow the funds for the repairs (since I should be able to get a conventional loan for the property itself)?

I do not do any of the repairs.  

Just use comparables like an appraiser would for this type of property.As a beginning wholesaler, you need to focus on discount from fair market value (after repairs). 

Lastly, what should we anticipate as rental rates in the Woodland Hills area, or where do we get that info?

We will be buying and repairing/rehabbing 2-3 properties per year in that area over the next 5 years.  

There are a number of items that need repair including major fire code violations. 

I am not a CPA, but it also opens up a litany of tax advantages because you can now drive certain of your activities through the LLC as expenses-- mileage and gas, networking lunch/dinner/happy hour, repair costs, the list goes on.