Following the sage wisdom of David Greene, our plan is to establish a "Core 4" team in a few different markets and develop those into profitable business relationships.As we've just started on this path, any advice is welcome, and anyone interested in working with motivated fledgling investors, please feel free to reach out!

Even how these investors would get their profits as well in the deal.

When this house sells we will make out with an enormous profit.   

In the end insurance companies are businesses working toward profits and will avoid big claims in most cases.

Also, I see no room for any profit for you in this deal, based on known fixes you listed.

More and more I don’t do small jobs that aren’t profitable, but it is a big learning EXPERIENCE dodging bad deals, meetings or bids.

There are many investors who have experienced challenges with 3rd party management (and unapproved concessions are unacceptable).Now the tough love part...it's going to be difficult to make a profit with a $500-600/mth rental purchased for $55K (and impossible with 3rd party management...have to factor in extra vacancy and higher repair cost). 

It was intended to be a buy and hold investment, but it became clear selling the property would provide a large profit.

Why is your net profit only $600 if gross rent is $2400 and mort/tax/insurance is $1100?  

Would it make sense to each invest in the down payment and any rehab costs and assign current cash flow to me and the profit at sale to the partner?