I know its a lot of questions, im just  trying to get as much info as I can before pulling the trigger.

I did lots of research before pulling the trigger but now wondering if I made a bad move.  

Hard $ can eat up your profit very quick so as its already been stated, make sure you have all your ducks in a row before you pull the trigger.

My trouble will not be in pulling the trigger, I have no issues with taking risks.

I have done a lot of business in the area but never pulled the trigger on one for my own.This property is going to require more work than the first. 

The taxes may stay the same until the next scheduled assessment or a sale may trigger an assessment.This looks like a good deal.

Get a few deals, get your feet wet, while still gaining knowledge on LLC, S-Corp, etc, then pull the trigger.

If you want to buy a property under your name and then later transfer it to an LLC, you can do so without fear of the due on sale clause being triggered so long as the loan is backed by Fannie Mae and you meet the guidelines outlined in the Fannie Mae selling guide. 

I'll pull the trigger on that!

ALWAYS ALWAYS ALWAYS get your pre-approval letter BEFORE looking at properties IF you are a serious buyer who is ready to pull the trigger.