I also think getting a Line of Credit is a reasonable option depending on how you use it but just receiving an regular old fixed rate loan is a pretty simple enough way to go.  

Clean look, simple design, and excellent photography.

From the photos, though, it looks like a relatively simple fix for a good contractor.

JacobTo add to what Matthew said, setting up an LLC is simple and NOT expensive at all.

No I don't use PM software, prefer to keep it simple.

It's very likely a simple bandwidth issue why they wouldn't review and sent it to you right away. 

I think the simple answer is the best one. 

Then when you build enough down through savings or refi, do the same thing again.In the City of Portland, the tenant rules are pretty tight, so you need to be aware of them prior to thinking it is just a simple matter of "I'll just kick out the tenant and rehab the whole thing."

If you are charging rent rates from three years ago, you are not capturing current value of CAPEX on the property. 

Now some simple math.