My next multi family will be 20% down and the bank said; "I'm assuming you won't want to escrow".

If your using financing the bank requires this.

You might want to clarify if you are asking about the land value from the banks perspective or from the "business" perspective (ie if you were going to sell the project on the market). 

Should I go to the realtor (which I am friends with) and try to negotiate a better price with the bank or offer my cousin the money to sign over the deed to me and bring the balloon payment ($25k) up to date, then renovate and sell.

The bank quoted me a total package 10k. 

what I find very unique right now Ned is the amount of HML or private money companies led by large hedgefunds investing in these HML companies have driven these private rates down to 10% apr or less.. so to only have about a 4% spread between bank money and HML is quite unique in my experience over the decades.. other than the high interest mid 80s anomaly.. 

My bank assures me their CD rates are really competitive right now...

Typically, banks offer a higher interest rate to LLC than Individuals so you can see why this might cause a problem.If you move forward, then you would just update create an entry to put the value of building/land in asset and note payable in liability.

My property was 38K so the bank loaned me 30 on a 3 year ARM with a 10 year amortization.

Again, that's the general going rate and terms but each bank could be different.