If you need financial help, ask under the "Finance, Tax, and Legal" forum.

They are mocking these up with interest only loans and factoring back in the tax deduction as if you qualified for the tax benefits of a real estate professional and factoring in the diminished first year property tax (since its not a full year).

Not to mention the tax benefits it allows. 

Your requirements to defer all tax are to purchase at least as much as your net sale. 

I’d fix it up and list it to sell after I’d been there two years to take the gain tax free.

The biggest differences between residential and commercial:  Scalability, financing are very different, property taxes may be different, Insurance is definitely different. 

Couple other things to consider, property / school taxes are high, and tenants have lots of rights.

Is it better to get an LLC when I become a land lord to get some tax benefits?

The borrower gets the benefit of having access to capital fast and the lender gets the benefit of charging a higher interest rate and not having to pay taxes on the profit.

Have you passed the tax assessment yet, or is this your first year of owning it?