Most multi family is on one furnace/boiler and the landlord pays the heat.

@Mark C.You are going to create a tax and accounting nightmareYou will pay taxes in each state you own property (typically) aThus each LLC will need to file in that state then you roll up to you which just adds more expense to your tax returnsYou will end up spending thousands of dollars per year to get taxes done which will eat any cash flow from making it so complexKeep it simple

With the current rental you intend on selling to pay back the private funding, does that cash flow for you?

Also, I would like to buy it cash to get a better deal out of it and not have to pay for any interest or loan fees.

Unless maybe because he has those funds in his business account it’s considered an asset on his PFS until he has to pay it back? 

All other things being equal, a high quality tenant pays lower rent than a low quality tenant for the same property.

Had one this month tell us she isn't paying rent until she gets an eviction notice.

I could easily pay that off in year years if I needed too. 

I have no credit debt and $12,000 of student loan debt I'm looking to pay off within the year.

With an assumed loan providing a lower interest rate and accelerated amortization, the income generated from house hacking can be leveraged to pay down the mortgage principal even faster, or the extra cash could be saved to be used towards your next down payment!