This is my plan and feel free to tell me what I’m doing right or wrong.First note: i DO NOT have a **** ton of cash sitting around. 

what happens if i decide to pay cash?

I have about 15k liquid cash and live in MA.

How much does the school bring in, positive cash flow. 

Review the seller’s maintenance records to identify any existing issues or potential problems.Do your financial analysis to factor in the current rent, estimated vacancy rate, maintenance costs, property taxes, and insurance to determine the property's projected cash flow.

But, there of course would be some cash outlay in order to purchase new capital assets or update the properties. 

Stay tuned for the refi for final cash left in the deal & monthly cashflow!

One LLC bank account of SDIRA has extra cash which not enough or read to put on property yet,  and the bank gives money market interests, which is under 2%.

Are there any other options aside from the rehab loan other than cash? 

The big difference between conventional and DSCR property financing is that the lender is looking at the rental income and not the borrower's individual income / DTI ratio (income is only looked at for reserves and cash to close).