Don't rule out finding a duplex, triplex or quad if your budget will allow it. 

And I love that he would finance it for so long.However, that takes the payment amount outside the budget that I can afford for a monthly payment. 

On Time and On Budget period.I agree with @Jd Martin.

As far as your concerns, there should be a separate bank account for the LLC and for any withdrawal not a specific budget line item (if you're renovating), or not a recurring monthly expense (if you hold and lease out), or  maybe over a certain dollar threshold, checks and withdrawals require both of your signatures.

I am sure that you are like most people in the world and that shelter is one of the most if not the most substantial item in your budget (And I certainly hope you actually have a budget, if not make that step 0 because you can't save, let alone invest, money if you don't know where it's going in the first place).

It really depends on your budget.  

I didn't refuse anyone because of what their interests or budget were.My point was that this realtor obviously isn't interested in doing the deals that he is interested in.

We didn't plan on spending all that money on construction with the budget we had planned but we all know how that goes.

That's $5k-$10k less on a deal that they can work in their budget. 

I don't know if prices will come down that much in 6 months so if you find a property that meets your budget I would go for it.