Cash Out Refinancing Question_ Beating a dead horse

[Adam Cole]

Hello everyone!! 

We just closed on our 5th investment property and our first long term rental. The 4/5 are short term student rentals located in Flint, Michigan. Currently we don't have loans tied to any of the properties and we're planning to pull out cash in order to fund new projects.

All 5 properties (worth ~$500k) are currently held within our LLC. In order to mortgage the properties (without using a commercial loan), I have been told that I will need to pull them out of the LLC (w/ a quitclaim)...and then finance them....and then use a quitclaim to put them back into the LLC.

My main question is can I personally guarantee the mortgage so that I don't have to swap ownership in and out of the LLC? I have that question sent to my lender but wanted to ask BP as well. The other roadblock I foresee is that the LLC is a 50-50 split ownership, so we are looking into restructuring it as a 51-49 split so there can be a majority owner for the mortgage to be tied to. Has anyone else found themselves fighting a similar roadblock?

I know that's a lot, but thank you for sticking with me and providing any help you can

Adam