Too many questions on how a 501c works with respect to liability and the underlying intent of the 501c owners. 

But using a HELOC is a risk because a) the liability is against your primary residence and b) current interest rates on HELOCs, which typically adjust after the initial term, are anywhere from 8-12%.

Here's a very simple break down that you can do more research on if you choose....Short-term rental insurance...This coverage is "STR homeowners" policy that would cover any damage to the property from a storm, fire, guest, and even liability if a guest gets hurt.

The reason I’m looking into using llc is because it’s a commercial property with 5 units so there is significantly more liability with tenants and their customers and if there ever was a lawsuit I’d like there to be an llc.

Hi all,I am looking at a potential rental acquisition where the home contains a garage conversion into a room and it is unpermitted.Note that seller has not included this room in the sq footage and i am not purchasing it with the assumption of conversion to permitted.If i were to buy and turn into a rental - is there any liability to renting it out with that unpermitted conversion?

It's personal liability I am seeking protection from. 

Getting a home certified as Healthy clean indoor air and clean water limits your liability too and increases the standard of living for tenants if they're not getting sick from indoor air pollution or lead in the Water they have the most time to work to pay us rent.

For what it's worth, some ideas I've seen pitched are grocery bundles (e.g. a breakfast bundle for 2-4 people with eggs, bacon, bagels, cream cheese, and OJ all pre-stocked in the fridge), meal kits, a pre-stocked drink fridge, charcuterie boards, premium coffee selection, bike/e-bike/scooter/kayak/canoe rentals, video game consoles, upgraded work-from-home office amenities (e.g. oversized computer monitor), etc.I'm not a lawyer, but cocktail kits, bottles of wine, local craft beer, and other alcoholic items seem like they would fall into a grey area from liability perspective. 

@Eric George Also contact your Insurance Agent before buying regarding costs & liability (As in an Umbrella Policy) or you may decide to title as an llc.

I would advice though to have the backing of an attorney on this for liability reasons.