With that being said, do you all recommend a newbie like myself first learn the intricacies and math behind successfully flipping properties before learning the intricacies of wholesaling including marketing?

The company who set up my first LLC, included additional documents like certificates for members, minutes information, etc. 

Upgrades include refinishing hardwood, new kitchens/bathrooms and finishing the 1000 sq ft basement. 

@Eamonn McElroy is correct, as usual.The only thing I would add is that the net income from the SMLLC that the owner receives will be subject to Self Employment Taxes, which would include social security and medicare.

It looks like you are calculating based on cash on cash, but I'd think you'd want to include some financing/debt service etc stuff in there too.There's nothing wrong with buying something for cheap. 

Our current payment is around $1350 including Taxes, PMI, ETC.

Appliances included are a refrigerator, electric stove, above stove microwave, garbage disposal and dish washer.

A QOZ Fund simply needs to fill out paperwork and include it with their annual federal tax filing. 

Currently renting both units with a CoCROI of 13.2% [taking all expenses including vacancy, CapEx, and property management (even though I'm currently managing it) into account].Currently living an extremely frugal lifestyle which is what enabled me to purchase this initial property.

CapEx is included, but is considerably lower because it's a very new, excellent condition property (I considered things such as paint, appliances, flooring that would be needed while we still own the property).Purchase Price $350,000Purchase Closing Costs $1,300Total Project Cost $351,300ARV $350,000Down Payment $12,250Loan Amount $337,750Amortized for 30 yearsLoan Interest Rate 4.6%Monthly P&I $1,731.46Total Cash Needed $13,550.002% Rule 0.85%Initial Equity $12,250Monthly Income ($1500 per unit) $3,000 Monthly Expenses (Including CapEx) $2,607 Monthly Cashflow $392 Pro Forma Cap 7.28% Total Cash Needed $13,550.00Cash on Cash ROI 34.73% Purchase Cap Rate 7.28%Est Vacancy $150PMI $200Est CapEx $63Insurance $80P&I $1,731.46My only major concern is that I'm not meeting the 2% rule (and just short of 1%, even), but this is probably the closest property I've seen, and has a significant cash on cash ROI.