Some questions I would want to answer: Has anything changed in the surrounding soil recently? 

@Joshua ChristensenI agree with you that brokers are not experts in zoning, but this broker should have told his client to go to the zoning department to verify.

Your responsibility is the DP, and the CF accumulates to pay you back the full amount of the DP. 

Looking for guidance on the best way to proceed going forward in terms of asset protection and how to structure all of this real estate… 

Hi BiggerPockets Community,I’m exploring the idea of renting my 5-bedroom property in Tampa, Florida, to traveling nurses and could really use your advice! 

Happy to connect further!

If you are able to add an additional full bath, it sets you apart in the market big time! 

depending on where you are in NJ you might have the Lehigh Valley in PA a couple hours away, or Delaware, etc. you can go to meetups, see places in person, and start to build a network.

Seller financing: Note for $1,350,000.00  - 7% amortized over 30 years with balloon payment after 7 years, interest only. ( I am trying to get the first year at 6% to stabilize then go to 7% remaining 6 years)Property Condition: Above average.

Here's a https://www.irs.gov/businesses/cost-segregation-audit-technique-guide-chapter-4-principal-elements-of-a-quality-cost-segregation-study-and-report to the IRS website noting specific items that are included in the cost segregation study report. hmm, that website is a 404 error.