Find a private lender who would give you that debt for a lower amount.

I can now close loans at a lower rate with my commercial banker than a residential owner occupied. 

Umbrella insurance provides substantial liability protection at a lower cost and avoids the administrative complexities of managing an LLC.

Certainly more areas with lower property taxes.

Should I wait for Spring for greater inventory, or for lower rates to see if cashflow improves?

For a single property, a strong umbrella insurance policy may offer sufficient protection at a lower cost.

Then they lowered the price to $340,000, a step in the right direction, but not as big a step that I liked. 

Your starting depreciable basis should have been the LOWER of what you paid or the FMV in 2010 when you converted it to a condo. 

Quote from @Brad Kremer: Hi everyone,I own a cash-flowing duplex in Austin, TX, that I bought 8 years ago when rates were considerably lower than they are today.

In this case, you can use Rental Income from the units that you will not be living in and that income can count to help you qualify.FHA rates are going to be lower than conventional for you almost always, but FHA does have a 1.75% funding fee.