balloon? ARM? fixed? what do you think?

[Jenna Nylund]

Trying to determine which financing route to go. Wondering if y'all have recommendations, or things to think about.

Purchasing a $460K turnkey property for short term rental. I've been wanting to put it in an LLC, for the added protection, but also we're planning on scaling to 10 properties over the next few years and wanted to start building up some credit and a brand... still, I'm open to skipping the LLC for now if it makes sense.

Here are a few options I've narrowed it down to. I've bolded what I don't like about each option:

- 30 Year fixed, 30 yr amortization, 20% down, 4.25% interest, closing costs $11,600, can't put this one in an LLC

- 3, 5, or 7 year balloon, 25 yr amortization, 20% down, 4%, 4.25%, 4.5% interest respectively, closing costs $1,455, Yes LLC

- 5 yr ARM (every 5 years), 25 yr amortization, 25% down, 4.37% interest rate, closing costs $2,655, Yes LLC

- 30 year fixed, 30 yr amortization, 20% down, 5.28% interest, closing costs $10,129, Yes LLC

My head is spinning trying to determine what makes the most sense! The property cash flows no matter what, and we plan to hold onto it for a long time. What else should I be considering??