This will give you such an edge on getting deals flowing to you and people working FOR you!

The first option gets me experience right out of the gate but I fear that with not much cash flow, it could hinder bank loans but I shouldn’t be showing any negative cash flow.

If the lenders are ok with it it could be a great cash flow strategy.One more thing to consider is what a future potential buyer might think of the strategy.

And if you really cared about increasing the cash flow, you could furnish it and rent as a medium-term rental.

The asset protection benefit is that I can utilize Special Allocation strategies whereby, I, as a natural personal individual, would own less than 10% of this new Partnership/LLC and my SMLLC would own the remainder 90% thus the majority tax responsibility would flow through to the SMLLC.Any thoughts from the professionals of BP is greatly appreciated!

Pricing will be a big consideration.

Are you going to cash-flow? 

He needs to understand you are buying one of two things- his business as a cash flow entity OR the property (retail) with two trailers (wholesale). 

Will this work and are there any other considerations pros/cons? 

Cash flow from rentals isn’t just the money coming in minus the mortgage.