Or are you investing into a syndication as a limited partner / non-managing member?

Answers that "danced around" questions regarding previous dispossessory filings/evictions often shown (through online checks) that this person had a number of these.I'm assuming your screening will not be limited to just what this person put down on the application. 

Taking the limited route of using just one strategy means you would be missing out on at least 90% of your potential deals, and in the end you would start forcing your strategy onto properties that you have no business doing...then rationalizing that you did a good thing.One trick ponies lose more than they could ever gain.

there is usually a limit to how long they will pay out (eg 1 year) while it is rebuilt/repaired.  

I have 3 credit cards with a total limit of $4,500.

The LL in LLC means "limited liability". 

Is this something that could be profitable or are the costs too great for the limited amount of time I would be able to put in?

Don’t limit yourself.

That damage seemed to be limited to about a 20ft stretch on only one side of the building but he said likely the entire foundation should be repointed.

No limits unless it’s a licensed state (don’t got that quite yet).