Of course, if you do any renovations on the property to get it ready for rent, those renovations may need to be capitalized (added to your basis) or might be expensed, depending on what is done. 

Definitely more work & communications than a long term tenant and you have to furnish the place of course. 

I’ve used 0% for a year credit cards to buy houses several times (just did one last month-lol).

Quote from @Zachary Deal: may be worth just handling all bookings through Airbnb or VRBO to add some level of protectionIf booking outside these platforms, we use KeyCheck to run background and credit checks on tenants, but we may switch to Rent Redi as they collect the tenant's photo ID for you as well. 

Think of it from the PM's perspective: if you were them, would you deal with the significant headaches of a C or D area (non-paying tenants, trashed properties, crime, police calls, etc.) for a 10% cut of a single property (probably just a few hundred bucks a month) ...I wouldn't.To make matters worse, the property isn't appreciating (because it's in a low appreciation market, or even a depreciating market), and the tenant pool is primarily made up of people with bad credit, low/no income, and a history of property damage at the previous places they've rented.

But, assuming good credit your rate likely would be 8.%-8.25% but you would have to pay 2-3 points. and you would have mortgage insurance. 

@Ozzy Sirimsi and All: I was wondering has anyone ever used business lines of credit that does not report to personal credit to purchase a rental property cash and then find a lender to refinance out?

If they had told you this when you bought the property you could have adjusted your course to accommodate establishing an investment intent rather than the fix n flip intent.  

Or partner with a credit counselor. 

How many lines of credit would I need?