We already signed the purchase agreement several months ago...it has been on hold while they mitigated a pest control issue that has taken 2 months.If it's that important, make it part of your purchase agreement.

Given that it's categorized as 'Community facility', 2.4 FAR should be allowed. 

We got a small drop last month but nothing worth bragging about.I was thinking of doing a refi with dropping rates but doesnt seem like thats in cards currently...Thank you The bond market happened.

The area is called the Pearl and that worked it totally regentrified the area but not affordable condo's U know start at 500k and go to many millions.

Anyone doing rental arbitrage in Tampa area?

To add to your excellent points, it’s also important to consider the tax implications of a 401k loan.

Are there any markets that will have SFHs in the $1.5-$2.5mln range that would be cash flow neutral or close to it?

What do you mean "invest in their notes".

Does anyone do anything similar or have a better idea? 

It may be worth the investment if you decide to do out of state to eliminate any potential mishaps when it comes to timely repairs if needed.