I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.

Financing Your First Flip with Low CashHard Money Loans (HML): Covers most costs but requires 10-20% down, with 10-12% interest.

Also your permitting process, type or land, grade of land, if underpinning is required will all play a factor into your cost. 

All but one of the family members are on board, and we collectively own the majority, but it's 55% and the bank requires 60%.

The repair was extensive and costly, requiring excavation (about 3x6 feet) to replace the broken section and clean up the mess.

The only reason I got an LLC was to buy a commercial property because it was a requirement of the lender.

If you want to combine two or more lesser sales into one higher purchase that is fine as long as your purchase meets the timing requirements for each sale.  

The seller requires a cash purchase & I’m exploring creative ways to structure the deal.

It is more complex and has added requirements such as a formal set of books just like a corporation. 

.✔️ Your house hack is more than a 2-unit property and requires more oversight.✔️ You’d rather pay for peace of mind and legal compliance.Final ThoughtsIf you’re house hacking a small multi-unit (like a 2- or 3-flat) and are comfortable being hands-on, self-managing can be a great way to save money and learn the business.