Similarly, if you plan to refinance on commercial you should do a bridge loan or do shorter terms with no pre-payments.

Plus you'll have two sets of closing costs, once for the purchase and once for the refi.I would also never do a 1 year balloon, too short.Finally remember with the LLC you can't do conventional financing, only commercial with higher rates and shorter terms. 

You'd need to get a commercial loan for that to happen, and those loans are not quite as favorable since they tend to have higher rates and shorter terms.You could purchase it in one of your names and do a quit claim deed over to the LLC, but the mortgage would remain in the personal name of whomever originally signed the mortgage paperwork as borrower.

You're not building equity when you make the payments shorter. 

With only an acre for parking and building, your probably either limited to a single tenant or low volume garden offices (maybe a small retail strip center, but the sizes would probably dictate shorter leases and higher turnover).

That's a good idea Michael, perhaps it might be wise to just snap it up and rent it out on a month-to-month or just a shorter lease span so it ends around June or July of next year.

Then I would write up the lease for the original tenants along with an addendum that adds the additional occupants for the shorter period of time.

It's an ordinary lease for a shorter period of time.

No tents, canvas/hybrids, or anything shorter than 27'. 

However, the amortization length (30) will be shorter (15 to 25 years).