Purchased for 355k, and budgeted 20k/unit Reno and some extra for other Capex.

Since your passive income currently covers your living expenses, there are a few extra layers you want to be sure you have someone with the analytical experience to guide you to the proper approach.

If i would have financed it for 15 or 20 years the payment would smaller which would have allowed me to have enough money generated enough money to pay all expenses including taxes

We used the money to pay her car note off and did our primary home remodeling so now she's happy and on board for future deals.

If they offered seller finance to us, those funds could then be used to pay for the lease at our home if we swap however they are retired, what about tenant screening amongst other things, not sure what type of deal structure is best for this scenario but if anyone can guide me with any feedback is greatly appreciated.

By the time you’re paying those inflated rates you should already have 10 golden ticket loans.

Very wealthy awesome people and they really like me......SOOO i explain the situation and they see my track record and BOOM I borrow 80k @ 10% APR interest only payments for 12 months with NO EARLY PAY OFF PENALTY (bless them) and i fix up the house and get a renter in there.

Charge what you need but be sure and pay it off before the introductory rate expires. 

You will need 20-25% down and a commercial loan for the rest.Most lenders will want to lend to an LLC with you personally guaranteeing the loan.Typically, each MFR would be purchased under its own LLC, for liability purposes.Each LLC would then also need its own bank accounts for collecting rents and paying expenses.

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).