I am looking at acquiring a package deal of a few properties with the use of seller financing for 3 years with a balloon payment at the end of 3 years.I am relatively new to the investment business and I have only ever gotten regular conventional mortgages before.

I only ask because in general, a regular rental is going to be much easier and more 'predictable' venture from a real estate investing perspective.  

So the more of that you can do while you have your regular job, the better.

Don't accept any tenants who won't be quiet, regularly-paying long-term renters.

I have regular engagements that bring me down to Plantation.

Fees for unpermitted work are hefty (twice the regular permit fee), and the enforcement division is definitely out and about, and they will definitely make you rip out any unpermitted work if you get caught, so consider the risk by all means.

My understanding is that there are several 'test' to meet this; 1) My non real estate income will always be under 100K (not sure if that matters for this purpose), 2) I have to spend more time doing real estate than what you spend in my 'regular job' 3) I have to put in 750 hours per year, or at least that much in 5 of the previous 10 years. 

If no violations are found during a rental inspection, the L&I Commissioner may delay the next required rental inspection one additional year from three years to four years.Change the fee assessed for a second rental re-inspection from $25 to $125.Add language reiterating that regular rental inspections are a condition of a City rental business license.Add a civil fine of $500 per rental unit for failure to register/obtain a rental business license.Add a civil fine of $250 for each violation of the housing code if the violation relates to a rental property or a vacant property.

But you have to run the numbers specific to your situation and scenarios with an experienced CPA to see if you gain any advantage and when/how.Depending on how much income you have, you can set up retirement plans (checkout Solo 401K) that would give you more (higher contribution limits and more flexibility) than regular job plans. 

@Max Sawyer - If it was a regular tenant - I would make them pay.