Make your offer based on the current rental income.

I'm currently based out of NH but am willing to work anywhere. 

If you use HELOC, it will have to be in 2nd position, where you can pull up to 90% LTV based on what you own on your current mortgage.

I don't know much about the Columbus market but I'm sure others will chime in shortly.I will say this... judging a market based on what you see for rent on Zillow is generally a mistake.What are you comparing the number of listings to in order to determine it's oversaturated?

The price of the property, and what the bank will finance, will be based on the income the property produces, the Net Operating Income (Gross revenue minus expenses) divided my the Cap rate.

BIG fan of the Theory of Constraints!

With that said, based on your comment that the income you receive from the S-Corp is not enough to qualify for a traditional mortgage, you may have to consider other ways to acquire the property such as owner financing or lease option. 

I am not on Pricelabs yet but looking at the rates for March, they look like what I would expect them to be based on our previous analysis.

I'm looking to form a simple tax strategy based on a very small portfolio, I want to do it right while taking advantage of all the tax advantages that come with REI. 

I saw your post in this thread as I am also looking for a Ohio based CPA who is experienced with Real Estate Investors.