If traditional banking proves difficult then you could look at hard money lenders, although that would result in a higher mortgage then you may be able to sustain.

I would fire your property manager and keep it as a traditional rental house.

Cons- is not traditional so some people might not like it and dog nails could scratch it ( I don't have dogs so not sure). 

I don't know the rehab budget on it, but I do know...1) It was purchased with traditional mortgage financing.2) It looked like the kitchen was torn down to the studs, nothing else.

I'm utilizing a variety of marketing tactics that are inside and outside of traditional REI marketing methods.

I seek to gain a better understanding of "Purchasing & Holding" deals, listen to the success stories of others, and compare notes of the best place to find start-up capital outside of traditional methods such as a bank!

I'm interested in low money down financing to acquire these properties and minor rehab if necessary.Adding a couple real estate positions this year should will give me some tax benefits and add cash flow so I can dedicate more time when I'm ready to do so.I attempted to purchase a 34 unit multifamily this winter using traditional financing.

If you have traditional rentals where depreciation (as April points out), etc could help offset the note interest income, that would be an idea to explore; however most note investors get into this area to avoid dealing with the tasks associated with traditional rentals.There are pros and cons to doing S-corps as with anything and it will depend on your personal situation if it makes sense to do. 

I'm curious what the cash on cash return would be for something like this vs a traditional multifamily deal that youre able to finance?

Do you stick with traditional colors (browns) or do tenants like the modern grey trend?