He is in favor of the 10 year arm but my worry is the potential 5% increase in interest rate at the end of the ten year period but he seems confident in going that's route...he just hasn't laid out a hypothetical scenario in which it make sure sense to me if i plan on keeping the homeboy in the long term..does he know something i don't?

If you pursue her legally, I can almost guaranty it will not end favorably for you.

Right now the market is highly competitive and the rent ratios in Las Vegas aren't favorable. 

In the context of lender and borrower though, the more experience the better, if  the deal is attractive to the lender you will see better terms, and lower LTV is viewed favorably; all these are factors that come into play. 

It's just another check on a box that goes in their favor if they ever come under scrutiny because when you close a loan into a business bank account and/or to an LLC it tends to show that this is not a consumer transaction or consumer loan. 

any help is appreciated, i hope to one day be able to return the favor here. 

Would like to bounce around some ideas on a complex that I believe has significant upside through the conversion and discuss potential tax credit programs that I think can be used in favor to make the deal more profitable.

Not a favorable structure for you as the borrower. 

You can be an entrepreneur and use apps like Uber / Lyft and Favor (if it's in your area) to make money while you find something bigger and better.

But after way too many open houses and not much to show for - reasons being, not built as per my open space design, not in favorable part of the city, too old, design flaws, cost etc, i've decided to find a lot in the desirable space and build a house (not that custom but today's mostly approved open layout plans).