As I build my revenue I plan on expanding to buy and hold deals, so I need something flexible.

Simple answer: If your current mortgage rate is favorable, a HELOC can provide flexible access to funds as needed for the renovation.Although, there are some different ways to get creative with your situation which I am happy to explore with you, as I am a loan officer.

I would however get into the habit of increasing rent every year, even if it is a small amount-it adds up and I'll bet your costs (insurance, taxes, etc) go up every year.

I really see Columbus Ohio as an extremely safe bet for the next 10-20 years.

buying now with a $100K reduction in a buyer's market, the real estate market is dynamic, and staying flexible with options like refinancing can help you navigate changes effectively.

Feel free to reach out to me directly if you have any other questions, want to discuss further, or if you would like flexible financing options!

Agreed with Account Closed - putting real estate, or a real estate partnership - within an S-Corporation provides effectively no value, while creating significant headaches and tax consequences.The only real benefit left for an S-Corp is partial shielding of employment taxes - but a rental property already doesn't produce any self-employment taxes, so the one benefit already doesn't apply to the rental.Then you have problems with not getting basis in the debt of the property, having a lack of flexibility on future structure, issues with distributions in excess of basis...just nothing about it is good.If the Partnership hires a property manager, and that property manager ends up being your S-Corp - great, now you are perhaps better managing your exposure to self-employment income as a result of these property management fees. 

Your regulations are much more flexible than what we have in Kansas City. 

Some are more flexible and willing to do 75%-ish, but 70% is a good rule of thumb.

Hospitable is likely your best bet.