I’d like to come in as a limited partner.

One thing I like about them is that they dont charge a month's rent as fee for new tenants. 

It sounds like you have a solid plan in place. 

I'm trying to figure out the best way to finance a project like this? 

Nothing to go crazy about but it feels like a "win" for three generations of my family in this difficult market. 

Also I Would like to meet people around the pittsburgh area about real estate, currently most of my properties are located in florida, (have 3 here)..Westmorland County.

I shopped all of my state's CU last time so I only called the top few this time around, it does seem like the best way to go about things.

There are exceptions, like what was mentioned by @Nathan Gesner, if you are an employee of the property owners, and you exclusively manage their properties, if you're a resident manager, living in the building that is being managed, or if you are someone who manages properties owned by a single entity and have a direct ownership interest in it.

I'll work with an attorney to assist with drafting that.Q2: Yes, I'll talk to my CPA but we'll most likely hold the property for at least 1 year under the LLC given our timeline to design, permit, build and sell the property, meaning I should avoid short-term capital gains.  

Double coverage seems like a waste of money to me and a possible finger pointing fiasco if a claim happens.