I would note that some lenders don't like "layered" ownership structures.

To clarify, my focus isn’t on analyzing T-12s for purchasing a property but rather on developing a solid T-12 for managing my property effectively and for use when I eventually sell my investment property in the future.I want to ensure the T-12 I create is both accurate and straightforward, serving as a reliable tool for tracking performance over time and presenting the property’s financials to potential buyers down the road.If you have any advice on key elements to include or how to structure it for these purposes, I’d greatly appreciate your insights.

The moisture issue and structural issue need to be addressed and you can do so before the insurance adjuster comes out.

Quote from @Ian Ippolito: Quote from @Michael Plaks: Quote from @Ian Ippolito: Quote from @Rud Sev: 3) Unless you're doing a 1031 exchange  at the end or similar tax structure to defer taxes, you will have to *pay back* all that depreciation benefit at the end (on sale...which for you is in 5 years)  via depreciation recapture.

@Andrew Grimmett If a seller is hesitant due to capital gains taxes, consider creative solutions: suggest an installment sale (seller financing) to spread tax liability over time, a 1031 exchange to defer taxes by reinvesting in another property, or a structured sale for flexible deferred payments.

The 5-4-3-2-1 structure you mentioned is among the most common.

Are the rest of the repairs cosmetic or structural? 

A truly "motivated" seller tends to not really care the amount of earnest money and you could also structure your EM due at end of your inspection period. 

Vystar went into further discussions with me regarding how they could structure the deal, if I choose their Construction to Perm product if I wanted the land to also be in the loan. 

Tenant was acquired with property upon closing(they have lived in their unit for 2+ years with on time payments). Their previous lease includes a portion of storage in the basement with laundry access(also in basement...