We are not real estate professionals.1) How would you handle the classification of the property in the 2023 tax year and would you utilize a STR depreciation strategy?

In my experience apt. conversions from single family are more prone to noise transmission. 

Probably not a lot of advantage to small MF vs single family so I would stay open to both. 

The checking account will draw against and pull from your line of credit to deliver your funds assuming your line has availability still (debit to line and a credit to your checking account).I’ve experienced , utilized, and have monitored how these tools work for over 10 years+ in practice and operation. 

Then utilize the same designs.

I'm assuming you are arriving at your cash flow number by applying Gross income - cap ex, maintenance, utilities, vacancy, tax, insurance, mgt, landscape/snow & Debt service?

Right now, Single family.

You could also buy a single family property that you can either fix and flip or house hack.

They knew all along this was an LLC, every single paperwork sent to them was under the LLC. 

If you're purchasing a single family home you can use traditional financing like you probably did on your house or you can do a commercial loan.