But for the first time in months I slept through the night knowing that we made the right choice.

Abou, one simple answer (of many) to your question is borrow.

Cap ex ask your accountant, in many cases you may have a choice whether to capitalize or expense a given item.  

Thanks to the BP rental property calculator I know i will cash flow and i will cash flow even more when the 20% i borrowed get paid off.

Best I can tell from previous posts on the site is that if you are having a problem with your DTI ration transfer properties to an "entity"(this is the usual word choice with little insight into what kind of entity the poster is referring to) However, when you dig a little deeper, it seems to be that even if you own property in an LLC if you sign a personal guarantee (which they pretty much always make you do* it all falls to you in individual, and therefore counts against your personal DTI ratio, which at least for this, seems to defeat the purpose.* it seems if you have an LLC with 2 years of tax returns, you can actually have the business get the mortgage, and not have to sign a personal guarantee.

Jonathan, the advantage of a land contract is that the buyer/borrower does not get the deed until he's paid off the LC.

With fanny Mae/Freddy Mac you could do as low as 5% down for a SFR or 15% for a duplex if you qualify (strong enough borrower which sounds like you may be).

Borrow money from friends, family, or private investor to cover the repairs. 5.

I was thinking just having him get a loan out and make monthly payments at 4.25% and I could turn around and borrow the money at 8% but didn't know what the tax implications were.

Have faith in your choice to pursue and absorb as much info as possible and then "TAKE ACTION" .