The exception is an FHA 203K construction loan - but that's additional complication for the buyer and a slower transaction for you.Conventional loans require only that all major systems are functioning normally. 

But, if it's 70 years old and still functions well, I wouldn't worry about it.

If you run into any troubles, at least you have your hloc ready.Since flips have that high risk of having extra expenses, something like the hloc can function as the reserve. 

This is a function of the loan amount.

Up at the top of the page, on the right side is the search function. just enter "subject to" and click on the search button and you'll find more than you'd ever want to know about these deals.

But here's my take as someone who is done by and hold, fix and flip wholesale and other real estate strategies. an LLC serves multiple functions.

Thanks @Michael Smythe, but don’t plan on growing that quickly and Stessa plans to add the functionality so I’m looking for something to tie me over for now.

When it comes to cash flow - Honestly that's a function of how you manage your business, your strategies, and what submarket you choose to explore.   

Do you purchase properties as a function of your savings and affordability or do you target specific purchase price?

It's a very competitive environment I would suggestions lots of reading (forum search function, forum bookstore plus more) then develop your business plan.