Since late 2017, long enough to go through a few hurdles including foreign property taxation, speculation tax, mortgage stress tests (canada) and COVID.Investments are all doing well though :) 

I recommend finding an accountant that specializes in real estate taxation for assistance.

I am assuming you are talking all cash purchase and rehab, since there is no line item for debt service.I do not know FL, but 5% operating expenses seems excessively low, especially when you have no line item to real estate tax at $525k or insurance.  

You might want to have an LLC or LLCs for the reasons they are typically used - limited liability, asset protection, taxation.  

just to be clear when you say use this as a way to buy a primary residence are you referring more to saving money in taxation or using this commercial property as your residence as well?

Robert, I recommend finding an accountant that specializes in real estate taxation over one that is local.

Janell,I recommend finding an accountant that specializes in real estate taxation over one that is local.

A truly self-directed Solo 401k plan would be exempt from such taxation on leveraged RE. 

The refi frees up cash to buy your next property now.2. the rent and then re-evaluate component qualifies the property for 1031 treatment and let's you keep that 30% tax at work for you instead of going to the government.If you can do a quick refi on this one. 

Kerry, I recommend finding an accountant that specializes in real estate taxation over one that is local.