An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

I got the loan.

Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont? 

For financing, would we then want to get a DSCR loan under the LLC or should we start with conventional loans under our name until we hit a certain number and then move them over?

While a 0-4% cash-on-cash return isn't ideal, remember that house hacking provides value beyond pure cash flow by reducing your living expenses.

You could make this work ST, MT or LT, depending on how you approach it - the key with unique grounds is owner-provided upkeep and service built into the listing and what permits allow. 

Since you have a noise monitor you may be able to use a decibel reading which is the objective measure to determine a legitimate complaint provided you can get it to accurately record the louder noises.

I own a mortgage company, so I have my loan officers use this Fannie Mae income calculation tool for all business for self borrowers: https://singlefamily.fanniemae.com/applications-technology/income-calculator .

House hacking will provide you with an onramp, though, and make it much easier to get started. 

Tell your tenants to provide you with an ADD diagnosis from their doctor.