What really matters is how long you think you will have this loan. 

@Eric Robertson I'm the founder at Obie Insurance.

Are you familiar with Creative Financing such as Subject To (SubTo), SubTail, WRAPS, Short Term Lending, and Bridge loans? 

@JD Martin taxes and insurance are not debt.

When my loan was not going to close, it was one of the options that my broker and lender told me about and actually referred me to for a conversation.

., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

They asked me to empty my savings, max out cards and then finally to take out a loan.

. - will it influence property taxes once we move to conventional loan in 3 yrs? 

Quote from @Nicholas Dillon: I read somewhere that you can request to have your mortgage insurance dropped once your Loan to Value reaches 80%.

You didn't mention the higher Florida insurance costs.