Needs gutters, full kitchen and bath, floors, paint with some drywall repair, windows, front porch and the deck on the rear is pretty poor as well.

I've been hosting MTR's now for 5 years and have worked with most guest avatars and my company helps independent hosts make those B2B connections so I'm fairly well versed in the insurance displacement aspect.  

With these declining commercial spaces, these communities could be at risk for blight.If you look around, you will see new retail spaces.

Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont? 

In addition, they are bearing the risk of you backing out of the deal and them being stuck with vacant units not bringing in rent. 4.

Many of them become entitled and create problems, particularly for amateur landlords that don't know how to manage well. 

From what we have been seeing from the people investing in our projects from abroad is that only to open a bank account they themselves need to be here, although I imagine that towards the future this will be changed as well. 

Sure it does. but depending on who the celebrity is/was.....That's why so many little hotels, boarding houses, vacation rentals, etc..... feature this in their advertising.And in some cases, you will not get more money, but you will get more guests.A little while ago, I went to Tombstone AZ and stayed in 'The first boarding house in Tombstone'....really cool place but kinda small and, well....old feeling.

I had access to a legal and compliance team to assist in doing such, as well as my background in contract law.

While you should always consult a CPA and/or attorney for their professional advice, here's my 3 cents (I'm sure others will chime in as well):1) Having an LLC may make it "easier" to track but it's not needed in this situation as you can run this through your personal return just as well.