For lenders with NMLS numbers there are plenty of options without pre-payment penalties that will be in line in terms of rate/closing costs with those selling 3-5 year pre-payments. 

In terms of the lady spending all her time reporting violations... yikes.

This puts us in a good position, in terms of making sure we are not taken advantage of by any contractors. 

My question is, since there is flexibility with the building itself, what would be best loan option to go with that would work for this property in terms of best rates, lowest down payment? 

I remember speaking to someone looking to do this sort of conversion in Scranton before and this is what they said they were coming across in terms of issues.

I personally love Columbus in terms of doing value add.

In terms of the condition maybe the landlord didn't add AC or went with LVP and carpet over hardwoods in an A location.

In terms of the LLC creation, again it's beneficial to those who do not want to take the time to research the best haven states to have a holding company in, why anonymity is important, setting up a registered agent for your company, corporate structure strategy, etc.I will say access to the community has given me opportunities to connect people to one another on different deals.

It worked for me in the past getting started 2016-2018 but I have not seen any deals (at least in FL) I would take the risk in terms of money and time.Best of luck!

It was interesting in terms of how a good lawyer can get past an LLC.