I want to exit as I don't get any personal use from the STR being 20 mins from home and would rather apply the capital to another opportunity in multifamily (LTR) or another STR in Hawaii where my brother is a broker and now manages STRs.

After hearing about, and personally encountering some horror stories of disagreements between homeowners and contractors, I am wanting to establish a clear contract to use with a new general contractor. 

This is advantageous bc later you have a third party loan (not your personal money) so seasoning period is 90 days to DSCR out. 

Either way, $600 in cash flow should actually help your personal DTI if you go for conventional financing on a primary again. 

They do require that person to have no assets, so a house in her name could be problematic.

I find it's very personal, and dependent a lot on your goals, resources, risk tolerance, location, experience, etc.

This process is done immediately if there is an asset they can show....the wrap note that is an asset.One of my coaching clients is selling his personal residence like this after he gets done with his forensic loan audit so that he can downsize.

Personally I'm working on a very exciting niche, but will take some time to pull together; and I'll give you more details as it moves ahead. 

Personally, I think I would stack some cash for a year or so while I did this. 

I'm also starting off my own personal investment property journey with my husband.