Buying new place: what all is affected by str vs ltr choice?

[Andrew C.]

Hello.

   I’m considering a property, and want to understand what all is impacted by the decision to str vs ltr it.

- I'd buy cash and plan to cash out refi soon after. Will rates or LTV limits differ if I decide to str vs ltr it?

  - will insurance rates be impacted?

  - I understand depreciation is different btwn the two, and one can take bonus depreciation on a str but not a ltr, also qualifying for an active loss with a str is totally different than with a ltr.  Would a cost seg study be different, depending on which I choose, or the study results will be the same I use those results differently?

  - can I easily change between the two? Is this just a year-by-year determination based on average rental length that impacts that year’s taxes only

- Are there fees, issues with a holding llc, or other impacts of having a property be str one year, ltr the next, str the year after (say)?