Weather differs depending on where properties are located and even snow accumulation within the same geographic area will vary year to year.

I have done a lot of these for my own portfolio, but am wondering if the tax implications are different if we do a cash out refinance for this partnership LLC and then have to "distribute" the funds to the members. 

That is treated differently by state.

As has been mentioned, try to find a way to keep as your primary for 2 years, and all gains are tax free at the sale.

It’s amazing the difference in damage within a short distance. 

Do you have a preferred type of property and price range you're looking for in general (knowing the costs can be different based on they market)?

Invest in comfortable furnishings and amenities, and add small extras that can make a big difference—like coffee pods or local snacks.

I renovated the primary bathroom, kitchen, appliances and yard.

@Pixel Rogue everyone has different future plans - many though haven't thought that far ahead!

Just make sure you take your policy to the brokers so they can do a direct comparison.Maybe hit up your primary home insurer to see if they offer a STR policy.