Preferably a local bank or credit union in the SE FL area that is friendly to real estate investors.

We actively invest in TX, FL and 12 other midwest & SE markets that have excellent cash flow and appreciation. 

The property won't cashflow per se, but your housing expense will decrease while your equity in the property grows thanks to principal paydown and appreciation.

I have a duplex on SE Cape Coral….

For primary residence #3, we bought in the path of progress; so, not a live in flip per se but similar in that we will get high organic appreciation and also add value through easy rehab such as refinishing floors and railings, replacing fixtures, improving landscaping, upgrading tile, etc.

It doesn't ban wholesaling per se.

LLC may expose you to SE tax, but only if your income is subject to se tax... 

The typical issue with SE borrowers with Conventional/Govt loans is that most of the tricks that reduce your taxes also reduce your income, which is what's used to qualify you for the mortgage.

There is never SE tax on rental income from LTRs. 

So no out of pocket per se, but I’m not sure if I should be waiting the 3 years or should I be making plans now.