As for liablity for a mom and pop landlord I agree do the best you can and have proper insurance..

There is a place and time that it makes sense, but as long as you get any cashflow that first year, father's time will likely help you out after that as long as you have a quality product. 

generally, the best product you can use for a cash out refinance is a DSCR loan.

Or just stabilize by getting the proper tenants?

Proper documentation and consistent reporting are crucial to ensure compliance with IRS requirements.

Without proper planning, house hacking can become a financial strain.DM me for further questions or assistance if needed.

If it is for liability protection, keep in mind to actually limit your liability means that any loans and insurance for the property need to properly be in the name of the LLC and not your personally.

Gatlinburg and Pigeon Forge are both extremely strong right now , with most people overpaying in the years that you mentioned and simply not KNOWING OR CARING  how to properly run a top notch Air BNB. 

But there are products that go all the way down to .75+ ratio and even no ratio.

You mean you use one GC and how not t o overuse his crew so production slows?