From the research we've done, we're leaning towards creating a WY LLC as a holding company and a disregarded FL LLC to acquire our properties and flow money through. 

I would likely treat the duplex as a long-term investment, focus on the cash flow, and disregard the fact that it's supposedly worth less than what I paid for it.

If I laid out a business plan and the cash flow equations I have done would this help them disregard the lack of income?

You can do it if you're a sole proprietor (no entities), if you have a single-member disregarded LLC or if you have a partnership, but partnerships require special formalities set up in advance.Even if you could avoid reimbursements, it is really cleaner to do them anyway.

(FYI:  if it was one person and thus a single member LLC, the IRS considers it a "disregarded entity" so your Federal tax return would be identical --- that's what I have). 

I would think the bank would average the two numbers, not completely disregard the better number.

I have been getting regular deals from wholesalers that for the most part I disregarded as I see them as quite risky.

Don’t always go with the listing agent, they have their client’s (seller) best interest at heart and will take advantage of the information you give them or will completely disregard you based on your offer in comparison to other offers.

Disregard post the property has structural damage no deal

Just seemed odd that they were able to back out so easily, and those documents/signatures were then disregarded completely.