So my initial investment is 11k.

Yes, all of the properties could be taxed if they're held together in an LLC, and then it becomes a question of what/which returns the LLC needs to file - typically it will need to register as a foreign entity if it does business in a different state than where it is initially registered.

However, i was initially thinking if I could use Fannie Mae templates such as those here...I thought it would be more cost effective for a starting RE Investor.

What would be the transaction to account for deposits when initially buying a property?

Buydown is trading initial cost for the interest rate.If you're planning to hold/live in the property for longer after the point, buydown is the way to go.

Sounds like my wife and I may have to put initial properties in her name since I'm not currently planning to return to a W2 job anytime soon. 

I’d like to see initial cash flow of $400-500 a month, and hopefully to have that increase over time with appreciation.

LTC is sometimes referred to initial funding.

Include managerial costs in the initial purchase to make sure that rent in your area covers the mortgage principal and interest, as well as taxes, insurance, repairs and maintenance, capital expenditures, property management, and other costs. 

I typically like to start with an initial phone call to discuss your investment goals/experiences, answer any questions you have, and tell you all about what our company has to offer.