We plan to invest in real estate and use rental income as our business’s income stream. 

I have no idea what current property tax is, but it will likely be just over $600/month when readjusted.  1031 has no value because 1) with the rebaseline to TOD value, there is no gains to address 2) it was not an income property.  

You are going to loose out on a lot of income by doing this .If your cleaner cannot complete a same day turn - time for a new cleaner 

We currently own one door (split acquisition and closing costs and contribute equally to management and ownership), and have split equity and cash flows from the property - also pretty standard in my experience.My question is this - I want to purchase a house hack and would like to use our current business entity for accounting purposes (tracking income / expenses / etc).

I’m here to build and increase my knowledge of real estate investing so that I can start my investing journey.

While seller financing is less common with flips, there is no real reason it can't be used, as long as it satisfy your needs and the sellers.  

I suggest you hire a “real” PM that does it for a living.

The state is Florida.I did not consider this first mortgage an issue because I was simply going to live rent and mortgage free in this property myself, rent bedrooms, make good money and recoup my investment in short time (netting 4k income per month if you count not having to pay my current rent).

I’m Michael Ramirez, a Licensed Real Estate Salesperson in New York City.

My wife and I are brand new to investing in real estate.