Yes for sure possible upto 80% on a 30 year fixed if rent covers the mortgage . 

Form 2553 exists just to be recognized as an S corp and that should take 30 minutes at most to do. 

So you walk away with 25% equity/75% debt split on a property where the mortgage is being paid by a renter and there's a few hundred per month extra for your pocket.You now get to repeat the process again, it is called "rinse and repeat". 

If you buy as an owner occupy but do not occupy the property, this would constitute mortgage fraud and is not a path you want to go down.

@Brandon Morgan get your finances in order for down payment then call small existing facilities asking if they will sell

Of course you can refi, but you wont be able to do a full cash our with rent covering your mortgage so you can keep rolling the funds to next project. 

Some factors to consider are how many loans do you have, how many mortgages, do you have bank accounts for each property, and how good are you with receipts. 

I definitely like the idea of room mates helping to pay the mortgage (or even covering all the mortgage), so I will keep awareness and learn more about it, so I can follow that approach then the situation allows.Sincerely,Joe

Send me the address of the property and the existing rental income.

In 3 - 4 weeks you close and now you own the house and it has a mortgage of the financed portion of the purchase plus the rehab funds.