You can get financing with 1099, but you need two years worth of tax returns, so the bank can see you are actually making money on your own.And there are other loan products, typically 5 year ARMs, portfolio type loans you can find.

and to start reigning in the storage space and snow removal, following by a new lease in march that increases rent and makes explicit the parking, storage, smoking policy on the property (I already had this language but will make sure its iron clad). 

In WA state here there is a portfolio lender that may offer under 5.5%...otherwise you'll be looking at ARMs

I make this point explicitly regarding my security deposits when I explain my leases to my tenants.

Bank Financing: 20 year AMM ; 10/1 ARM ; 5.5% interest 20% Down Raised $100,000 for DebtContributed $50,000 of my own capital for the remaining debt How did you add value to the deal?

However, if you're banking on refi down the road, ARM maybe a better option?

It's probably a New England Arms single shot, or a Mossberg. 

You can do 30 year amortizations on a fixed or a 5/1 or 7/1 ARM on these loans in the name of the LLC.

Some do interest only while you do the construction, then refi you in to another product 30 year fixed, 5 arm, etc.

Just make sure to explicitly state in the listing description that the property is rent per room.