To address this, we agreed that I would work in the business for six months to verify the financials, which so far align with his POS system.My main issue is that at 23, I don't have strong financials to get a conventional loan at 75% LTV with a ~7% rate, and the seller's lack of financials complicates bank approval.

A subject too loan generally had a higher interest rate than the prevailing rate (not all, but that was the general direction of the market). 

Pro-rated first month's rent would be due at move in. 

Hi Andrew,80% LTV cash out is out there, and interest rate jump up compared to 75%.

Yes, in my opinion because of the terms and rates of private money it is best used for short term acquisition and rehab.

Hi Sanjay, I am also local and can connect you with a top agent and team here who can help you start a successful portfolio.

I would recommend giving the buyer a 2-1 buydown credit to help offset the high rates. 

Some of those can be good, but most are just regurgitated versions of other people's courses.If you want to be successful in real estate investing, start with transparency.If you are a new investor, use it to your advantage.

What is your interest rate?

As you know the rates in Florida are out of control.