You and your legal, tax and financial advisors should review this transaction in greater detail, especially the PLRs, to ensure you understand the significant risks involved and are structuring the transaction as close as possible to the PLRs to mitigate some of the risks.

Whichever loan that you decide to use, the interest will be tax deductible due to interest tracing rules.

It links to our business bank account and our business credit card so come tax time, deductions should be easier.

How is it for preparing taxes? 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Most Florida markets will share some dynamics though like taxes and insurance. 

.$275000 with 25% down, taxes $4080, insurance is 3000 yr and rents is $3800 month, Water $400 mth. 

@Emily Gowen so as you pointed out you would not have to do a 1031 exchange on your current home to avoid the capital gains tax and coupled with what Dave Foster pointed out I think, speaking from experience you would have a high likelihood of success. 

Assuming this is an 8 cap neighborhood you'd have a ~$420-450k value within a year (unless property taxes are crazy high) when leases would renew since it'd be valued as a commercial building with the office space.

Everyone has budgets and you are not in the luxury bracket where I would worry about young partiers etc.