But perhaps I can do that 5 years from now, when it would make since to refi these loans after the interest-only period?  

Also, the construction in So-Cal will take a really long time so you have to figure out your cash flow during that period.

Or should I hard money loan this and not worry about that period?

We have agreed to terms on a private loan structure and will sign a promissory note and personal guarantee.

If you are only planning to flip one house, you most likely will be successful with your residence for a year strategy - but not guaranteed.  

Are there an Lenders in the Akron/Canton and surrounding areas that lend to a LLC with a personal guarantee? 

What is the security and guarantees?

Do you shy away from those deals or would you take them on and hold them for a period until the cash flow surpasses the difference between the current cap rate and the historical cap rate?

Appreciation will be low, and it would be harder to sell when / if the time comes (again, people point to that often times cheap houses sits on markets for months at a time, versus in seattle it sells like hot cakes)Upside of local investment is that it appears “safer” - I know the market, I can drive to it to make sure no one “Morris”ed me, and when the time comes to sell / 1031 - hey, it’s easy, and it most likely will come with good appreciation (I know, appreciation is not guaranteed; it’s icing on the cake).What would you guys do?

For example, spending a little more to put a waterproofing system behind your shower enclosure (like Schluter) virtually guarantees no leaks in the future.