While it is theoretically possible to simply withdraw/transfer only a certain percentage ownership of the property (e.g. 20% one year, 20% the next year etc) to spread out the tax burden, this means that you would own the property as a tenancy in common.

Is there a common practice to shop this deal around (for funding) to let's say private lenders, without them theoretically stealing the deal (Property) from you?

Maybe you could rent on the rooms as separate units, with the rest remaining a common space until you decide what you want to do with it for the long term.

It's no more deadly than the common cold.That said, with all of the media hoopla about it, are you seeing any impact on your STR reservations? 

There are a lot of holes here.You typically can not evict for late rent if the PM accepts the appropriate rent and late fees.A PM should not give 1.5 months notice to move out AND file eviction...it should be one or the other.It's common for leases to automatically renew month to month after the initial lease period. 

It also includes common forms that you can edit and use.Their web site is a free resource with links to your state law but I highly recommend the book for some of the practical advice they provide.

He said rates are ranging between 4.75 - 5.75%, 20 year amortization, fixed 5 years with max 80% LTV.I’m assuming 80% LTV is most commonly the highest ratio, correct?

The owner is quoting for 2900SF [adding 25% common area].

My question is how common this is.

The law requires you to give notice; it does not require the tenant to agree or be present.Any time you give them notice of an inspection, it's common courtesy to try and accommodate their schedule.