VERY limited circumstances though, a very last resort. 

I have 5+ buy and hold properties,  i have limited cash right now for another down payment, my debt to income ration hits almost the limit.

My question however, is for short term rentals there - licensing is taking place such that it is possible, owners may be limited to 50% of the year, making investing in a short term rental more risky.

They are limited doc 

This approach can save them money and allow for a more streamlined transaction, but it can also limit their reach.

What are the my options to limit bringing that money out of pocket for the down payment but also minimize the amount of equity given away on the project? 

So not its going to be harder to grow because you've also limited your lending possibilities.

It's just easier.Use one for each property to limit liability between the assets (they can't attach liability to other assets)

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That said I have limited experience.