Leasing it out via Airbnb or Vrbo is an option if available and demand is there.No creative buying strategies needed.

Is anyone aware of a more near term fund that offers cashflow earlier on and isn't a full development cycle fund?

Premier Property Management is a viable option.

For example, in FL you must have a land trust or you're paying a lot of money in for an LLC, but in Ohio land trusts don't offer asset protection and an LLC isn't taxed as heavily. 

Let's say the below 10 unit is being offered at $800K: Property: 123 Anywhere, USAGOI: $75K ($625/month)NOI: $45KCAP: 5.6You love this opportunity because you understand it's potential - more importantly, how to realize the potential. 

Interested in hearing about what financing options are available? 

If not would like more info on property I have people I sent information to but no offers of yet.

The current owner has offered to put up the down payment and add that onto the total price of the house so they’ll be paid back and we aren’t putting anything down.

As an LP in a syndication with two (let's call them) identical offerings in terms of asset type, business plan, submarket, asset size, projected returns, fees, waterfall, etc.  

If this is an option you should consider.