the absolute best tax advantage we have in the US.. and why folks should own homes to live in especially in markets with robust appreciation. 

Again, this is risky for the buyer, but may give your offer an advantage to the seller over an all cash offer if that all cash offer has contingencies on inspections and things like that since it gives the buyer a way to back out.For me I would not do this unless I was certain I wanted the property, and certain I would get financing because if for some reason that falls through then the seller would be able to keep your earnest money....not sure if that varies by state so you would need to speak to your local realtor about the risks of making a no contigency offer.Hope that helps.Mike

At some point, we intend to refinance with a different bank who will let us transfer the title to an LLC  However, in the meantime, how should we set up the rental business for the best tax advantages until we can refinance with a different bank who will let us transfer the title to an LLC?

Glad you were able to take advantage of the opportunity!

All of our competition is using cell phone pictures so we have that advantage.

I would also start educating yourself on hard money (youtube university) so you start to understand the terminology, common terms, advantages & disadvantages, difference between local HML and Nationwide HML.

Its unethical to take their fee if you have several qualified applicants already in queue.Don't take advantage of desperation for a couple hundred bucks.

So basically the only advantage is you get "guaranteed rent", but with good screening, you will be guaranteed rent anyways.

I've spoken to him about this, and I try to be understanding, but I can't help but feel like I'm being taken advantaged of because he knows I'm a long distance landlord and that this is my virgin property.

There are some that might do self funding internally but expect the rates to not be good and then take away any advantage you saw with the higher cap rates expecting to get higher cash on cash returns.In addition to a lender doing a loan call if you have a loan on your vacant building you have to be careful with the lease and what it says.