Tarik Turner - Thanks for your response to my initial post.

This is more of a turnkey purchase with not a lot of initial value add.

My initial offer was for $150k assuming a rehab cost of $20k.

However, the seller knowing my specialty, countered asking me for a proposal with more upside for the seller or to do a rental arbitrage.My initial offer was a 5% upfront cash payment, 15 year repayment plan at 4% interest and attempt to refinance within 7 years to repay the seller in full and secure more traditional financing.  

Did you ask your lawyer if they have a template that you can use for the initial offer to get things under contract? 

I sell the vehicle and pay off my initial seller and make 20k.

It basically means that if you used your initial entitlement amount, once a loan is paid off, you can request to have full entitlement back one time.

We got to the page that says:Due to the number of members in your LLC, you are considered a Multi-Member Limited Liability Company (LLC) as the type of structure applying for an EIN.Since you are a multi-member LLC, we must initially classify you as a partnership.

Or I initially made an exception and allowed pets as the building was vacant and I needed to get a renter ASAP. 

Your initial thought of house hacking, is a much better and thoughtful endeavor.Stephanie