Secondly- the listing looks very tan and brown, somewhat sterile.

It virtually always requires us to manually participate in getting the correct insurance info to the new lender even though the old lender had it correct.  

I recently received a notice from the city of Canton, Ohio that this property has numerous code violations that has to be corrected immediately or I will be fined heavily daily for violations or face imprisionment.  

You most likely are calculating things correctly.

If this is a rehab value add, I believe your numbers are not correct.  

You MUST have a correct STR policy specific to short term rentals.Check out Proper (expensive), CBIZ and Foremost (very popular here) to get some quotes. 

@Laurie Geissler, you are correct!

I’d encourage you to make sure the basis of your property is done correctly as that impacts all future years of depreciation.

My goal is to get a high likelihood of approval at 1 one year or longer of financing to allow me to refinance after cleaning up credit and completing some bookeeping/tax corrections to better qualify.Property would be purchased through LLC based on a 1031 exchange where I completed the sale and now need the replacement property. 

Correct me if I'm wrong, but with the cost-segregation, I could essentially pay no taxes for our rental income for quite a few years.Example numbers:$2m property purchase$800k bonus depreciation$125k rental income annuallyNo taxes paid on rental income for the next 6.4 years or so.