You won'the believe the different ways he structures land.

I feel that I have a good grasp on how they work ( the Financing structure, the funding of the Repairs into the Loan, Interest Rate, Points, Seasoning Period, Down Payment, etc. )What I'm still unsure of , is what is meant by a 5 or 7 year ARM ( as the Initial Loan that you get when you use a Portfolio Loan from the Get Go , But then after that time is up ( the 5 or 7 years ... depending on which ARM you went with ) , how then does the Financing , and More Importantly my own Personal PITI on the Property get effected, by me then having a 15, 20 or 30 year Conventional ?

There are agencies that work to attract business to particular areas I am sure West Palm is the same, locate the local agencies that already have a rolodex of potential buyers and see if you can structure a deal to intice these businesses.

If the leases are shorter and expiring could you structure a lower base rent attracting tenants with profit share in your favor that would cover your bills and allow you to capitalize on the type of risk you are investing.

Or a different structure that I can pursue.  

I wouldn't call them investor friendly and they don't give any discount for investor only agent they have a capping structure that you paid 18,000 a year in commission and then anything after that you keep a hundred percent which if you sell multiple homes a yeaf it's totally worth it.

But now that I am seeing free-standing structures in the same neighborhood, I am not so convinced.

That is not quite what you have structured here. 

I'm more thinking about minimizing legal risk, if we can structure it where there's a "building lease" from us to the LLC and then the renters sublet from the LLC and pay into those accounts. 

The building is all stick, and the floors are like a fun house up/down. this could mean significant structural issues, or a lot of down time trying to fix these issues. it also needs a roof and lot of minor repairs to get it up to standard for this area.