The 203k might be a good option but make sure the lender you speak with offers the 203K Full AND Streamline version AND the Fannie "HomeStyle" loan as well.

Some offices will hold tenants responsible for their items (like smoke detectors were there on move in but magically they are not there on the yearly, clearly a tenant issue) but generally speaking they hold the owner responsible no matter who actually caused the problem.  

We do a lot of social media networking and we speak with sponsors and investors daily from all over the world honestly.

I can speak from experience that over the long term (10 yrs+) $110/mo of Capex is not enough.  

@Daniel J HarrisUsually when you purchase a property it is in a LLC for tax purposes (speak to your CPA) not a S Corp.

And that residential department will often not speak to the commercial department.

Speak to a real estate firm, not simply a Realtor who specializes in sales. 

Just speaking from experience owning a 1913 craftsman home.Good luck! 

Speaking purely from the standpoint of you qualifying for another mortgage, you at least need to charge enough to reduce your debt burden and get your DTI ratio below say 50%. 

It would be a good idea to start speaking with a Lender as well so you can get a better idea of what you can qualify for.