Sweet terms to me are no money down (except title insurance and closing costs) at below market rates and terms.

That said, it sounds like cash method is simplest and better suited in our case, except for inventory accrual - is this considered a hybrid accounting method, and will it likely survive an audit?

I do what Patrick does except that refrigerators are included in all mine.

Generally (there are exceptions) what you give up in cashflow is offset by appreciation.

I currently own a 3 family and have exceptional credit so I hope they will consider private financing.Other than private financing, is there any other creative ideas to finance this property that someone could recommend?

Full recourse loans with no exceptions.

I hear you @Kristen SnyderSetting goals is absolutely vital to achieving anything.

The current tenant is a bit irrelevant except for some vacant time and getting it ready to rent again.

Non payment would be an issue, except we just took ownership of the property 2 hours ago, and they have never been delinquent with us because they have never had to pay us.We asked our closing attorney today, and he said it's a simple 30 day notice, telling them their lease will not be renewed and they are expected to surrender the property.

Refer to Publication 523 for the complete eligibility requirements, limitations on the exclusion amount, and exceptions to the two-year rule.