If you don’t mind a little more advice…when I’m running projections like this, I like to use the worst case scenario and if the numbers don’t work out in that scenario, I usually pass on the deal.

Not really sure how to go about financing but we're planning on having a down payment at or slightly above $100,000 and don't want to pay more than $3100ish per month. 

Meaning what actually makes up those numbers how do they get on that statement.

Any recommendations on lawyers to talk to that can assist in advising on an LLC fund (if needed) and how? 

Dealing with warranty service is a pain in any situation but when you also have to deal with a tenant on top its even worse.

The buyers had invested a lot into the deal (~$100M) and purchasing the property was critical to complete their development.

If local sales support the new value then you should not have to deal with the seasoning requirement.

Finally, always get the credentials to access the mortgage account online and change the email notifications to your address.

I've separated out electricity but not water (never heard of sewer being separated) and I've always had separate gas meters on my properties but have separated the heating system on one.

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