Lease property on HML to tenant instead of refi

[Samson Tefera]

I have a property for sale on a hard money loan which is due in 1 month. Property is under my LLC. I do not want to refi under my name and keep the property.

I want to extend the hml, interest only, and rent it out. If tenant rent covers the mortgage and I cash flow $500/month, fully inderstanding that it is interest only payment to hard money lender, and with the understanding that if I refi, some of the loan would go towards equity, why not just do that rather than incurring closing costs for refi?