While my intention is to keep the property long term, I feel that $5000 could be "better spent" from a short term perspective for something such as adding AC or using the $5000 toward another property.

If the intent is to pay this debt down sooner than the actual terms you just need to figure out the cost benefit to securing the lower rate.

And finally, I don’t live in FL or have any intention of going down there, is this an outrageous stipulation?

How will I know or I will I be able to identify what their intentions are of the property meaning if I knew that with their in-game was then I would be able to set a path and getting my connections made and my lists of the two or three fires that I could talk to you and figure out if they are a wholesale type of investor or there a they're a buying and  hold type of investor or they are going to get somebody in there for a rental property.

My mother has no intention on staying on as a partner for the foreseeable future.

Called my realtor and told him I was aggressively looking for off market deals, and I hand every intention of using him to help with the purchase.

Does anyone have a simple word document LOI? Thanks in advance

We've owned a few rental properties and a couple pieces of vacant land with the intention to build.

Are you purchasing a multi-unit with the intention to live in one and rent out the other(s)? 

HML have intentionally high interest rates, high points, interest only and are short term 6 monthts to a year.