How should i structure PM while starting to buy a SFR portfolio?

[Elliot Lamson]

I've been a FT investor the last 6 years mainly flipping+wholesaling. (100+ flips & 200+ wholesale deals)

I have a wealthy friend who has 3-5 million liquid he would like to put to work. 

I'm looking to start a SFR portfolio in 2021, looking in areas like Memphis, Milwaukee or Jacksonville.

Rough numbers....
Buy 50-100k
Rehab 15-30k 
ARV 120-150k
Avg rent 1-1.5k

I plan to BRRR everything.
I would be using a local property management company.

Questions: 
1. If it was up to you, how would you structure PM deal? 
2. Best ways to refi these portfolios? Deal by deal? 

Thanks!