However, in the S Corp I have to elect a "reasonable" salary and then I can take the rest of the profits as distributions as I see fit.

If you want PM me the address I can run it thru the tools I have available to confirm the occupancy and ADR amounts, the rest is just math and 'trust but verify' the Op Ex numbers he has provided. 

We are saving the rest for our first rental property.

This is an establish investor, odds are they're not buying from either of us, they have their ducks in a row to replace our role of buying, managing their rehabs, and possibly even managing.The rest of the process efficiencies such as bulk buying of construction materials and passing on the rehab savings is a benefit, but this one is common among most operators and property management companies, not strictly turnkey providers.

Was not sure what the increase was but the rest of my statement holds true which is very important for this discussion.

My opinion is that the area is prime for appreciation.. because it's attractive to first home buyers priced out of Clintonville who want a garage, yard, easy access to OSU and rest of city, etc.  

That is true about the students doing online training as of now because of Covid-19 so vacancy will more than likely be higher throughout the rest of the year and maybe well into next year.

My plan (in my head, anyway) is to raise 25%-30% equity from a few different high-net-worth individuals, then go to a bank for a commercial loan for the rest. 

If you do this right the rest will be pretty simple (although you should continue to monitor payments and expenses and ask questions on occasion)B)  Medium effort - Use @Hemlane. 

I’m not a property manager, but my assumption is that they will prorate the rest of the month to you that was paid for.