Would you do the roof work so the rest of the project could be finished over the course of the next year or so as funds were available or would you focus on just buying a different property entirely that would make more cash flow?

Key difference in existing resale with inventory so low: Not all sellers have to sell their home.

Not too low either, you don't want to go with someone who is just focused on price as this is a quality of a not-so-great accountant.

Hey Justin,  are you using 150K in funds to acquire the property or for the rehab?   

First, if you qualify for a Roth and are okay with volitility and no guarantees, take it, just watch out for mutual fund or management fees as that 1-2% you pay annually gets you nothing.

Side note: Keep in mind some items are naturally low profit margin work and some are high profit margin work.

I wanted to protect them, while on the other hand finding ways to creatively maximize their take home while keeping our risks low due to the potential upside of the deal.

If you can buy it in a LLC and the LLC is funded, then yes buy it in a LLC.I am not an attorney, but have done a lot of the stupid stuff people tell you that you should do and at the end of the day every accountant and attorney after the fact told me all of that is such overkill and just a waste of $. 

I'm not exactly excited for my funds to be tied up for a year while the house is being built but I could borrow against myself (TSP - government employee) or sell some stock/use some of my cash ~$130k.

The comps were from 2021, nothing recent now that prices have risen exceedingly higher and they got my rental income too low based on rents that were 1/4 of what they are currently.