With the big picture goal I mentioned above what are some ballpark ROI figures for a long term buy and hold framework ?

Not saying you have to figure out the complete framework of another structure up front (that would be premature) - but would be good to think about whether or not this LLC is designed to cover one building, period, and anything else would be a separate conversation, or whether it's designed to expand.Good luck and keep us posted!

My best guess though is that while that might work in the single LLC and its variants, it might not be viable under the separate LLC framework.

Depending on the damages, there could be extensive work involved replacing all the damaged framework, electrical, plumbing, etc. as well as getting the smell out.

The one house I am thinking of right now is the one I completely rewired and took the spider web of old knob and tube OUT of the attic.Good access either by inside closet hatch on a 9 foot ceiling,,,ALL the rest of the house the ceilings were lowered to 8 foot with new framework and new drywall 20 years ago. 

There's no reason to do wonky under the table stuff when an entire regulatory framework exists to get you paid for your hard work...I get this a fair amount of time, unlicensed folks asking for kickbacks if they refer me to someone that needs a mortgage.

(You don't know what you don't know, as the saying goes.)The entire purpose of laws, licensing and regulation is to provide frame work to protect consumers.

My only suggestion would be to learn the OKR framework and move away from setting basic goals.

Hence I am going to be very selective in investing in deals that are as good or significantly better than investing in the stock market.I am working on my LEAPS framework : Leads, Analyze, Pursue, Success.

I will say that the book doesn't go deeply into the mechanics off how the business works, but it gives you a framework and paints a picture of the strategy that convinces you that buy and hold is rubbish!