We are currently spending $20-30K per month on marketing.

I also know people who are currently doing this.

Simply put, it will not last for over a month.Therefore, IF I want this property, I cannot wait for my current rental to sell, get the funds in the 1031 Exchange’s escrow, and THEN pursue this house, as it will certainly be gone. 

I am 28 years old and currently live in Findlay, Ohio.

Can anyone pls review my current Lease Docs and advice me on if I am missing anything important in there?

I am leaning to rent by room, given I could use the extra cash flow, and I currently work for a property management company so I have a good system in mind to use. 

I do get the rent in checks and transfers currently to my personal bank.

As far as replacing your current interest rates of 3.5-4.5%, that is a bullet you would have to bite to pursue access to equity.

Exactly.And I believe it'll continue to trend down.

We fully own the property, but an equity loan minimum is currently more than we qualify for, can't find a personal loan, all due to credit scores.