Your options are A) look at pathways for getting you on the mortgage, B) live with the marginally higher rate and possibly refinance once you're income is more stable and/or if rates were to drop, or C) buy the rate down to whatever number you want. 

Most institutional lenders are going to require 25% or more down on such a property, so that might be a struggle for you based on your post.

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Although it is not a home run, it is a base hit, and I will take a base hit all day long How did you finance this deal?

I'm making some options and trying to see the best outcome between them.

If ownership is a single member (me), then one of two things happens. 1) we go with the lease agreement option and then Partnership B is receiving passive income that is much lower than what is expected; or 2) we go with a management fee option and then all the profit flows to Partnership B, but the expenses unequally benefit me as the single owner. 

They have landlord-friendly laws, which is always a plus.Jacksonville, FL: Another option in Florida with a strong rental market and potentially better deals.Gainesville, FL: Similar to Tallahassee with a strong student rental market but might offer different opportunities.Connecting with local investors and real estate agents can give you more insight into whether Tallahassee fits your investment goals.

You cannot "like" the benefits of an S-corp because you clearly do not know them, based on your "no salary" comment. 

The DSCR loan is usually the best and most convenient option to go with 

These options in my opinion have increased revenue in the current market that just compensates for their increased effort (I have 4 STRs in my market).