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We present the discovery of TOI-1518b -- an ultra-hot Jupiter orbiting a bright star $V = 8.95$. The transiting planet is confirmed using high-resolution optical transmission spectra from EXPRES. It is inflated, with $$R_p = 1.875\pm0.053\,R_{\rm J}$$, and exhibits several interesting properties, including a misaligned orbit ($${240.34^{+0.93}_{-0.98}}$$ degrees) and nearly grazing transit ($$b =0.9036^{+0.0061}_{-0.0053}$$). The planet orbits a fast-rotating F0 host star ($$T_{\mathrm{eff}} \simeq 7300$$ K) in 1.9 days and experiences intense irradiation. Notably, the TESS data show a clear secondary eclipse with a depth of $$364\pm28$$ ppm and a significant phase curve signal, from which we obtain a relative day-night planetary flux difference of roughly 320 ppm and a 5.2$$\sigma$$ detection of ellipsoidal distortion on the host star. Prompted by recent detections of atomic and ionized species in ultra-hot Jupiter atmospheres, we conduct an atmospheric cross-correlation analysis. We detect neutral iron ($${5.2\sigma}$$), at $$K_p = 157^{+68}_{-44}$$ km s$$^{-1}$$ and $$V_{\rm sys} = -16^{+2}_{-4}$$ km s$$^{-1}$$, adding another object to the small sample of highly irradiated gas-giant planets with Fe detections in transmission. Detections so far favor particularly inflated gas giants with radii $$rsim 1.78\,R_{\rm J}$$; although this may be due to observational bias. With an equilibrium temperature of $$T_{\rm eq}=2492\pm38$$ K and a measured dayside brightness temperature of $$3237\pm59$$ K (assuming zero geometric albedo), TOI-1518b is a promising candidate for future emission spectroscopy to probe for a thermal inversion.