The more important issue than this accounting is to make sure your title insurance and hazard insurance remain in effect when quitclaiming to a disregarded entity. 

Your intention, as made clear in your post by saying   "Oh, but it may get better" is to manipulate the transaction without regard to legal requirements to ensure the buyer/borrower is qualified to buy and set them up to fail, predatory dealing.States do have exemptions for sellers doing seller financed transactions, but no state has an exemption for doing financing in a predatory manner and exemptions do not give license to intentionally disregard legal aspects that would otherwise be reasonable and applicable.

Regarding the property management single-member LLC, is it a disregarded entity and did you have to use an EIN to open the bank accounts?

Quote from @Chris Seveney: @Michael PlaksGood to know - I was told that if I had costs incurred without an LLc then when I created my LLc I could not retroactively deduct them as an expense.On this thread, we're specifically discussing a 1-person disregarded LLC.

This is a new noise standard and punishment unlike anything seen in the State of Florida and shows a blatant disregard for property rights. 

Arrogance, Myopia, a complete aversion to the concept of self-sufficiency and a total disregard for the future are intrinsic values of these people.

However, now the lender is completely disregarding my wife's income due to her being part-time for less than 12 months (approximately 9 months).

Unfortunately, the lines have been blurred by convoluted legal language and a disregard for compliance.

Usually start off with a simple LLC as disregarded entity which will flow through to your own tax return and as your income grows you can convert to a S-corp to reduce the amount you pay in self employment tax.  

Disregard.