Here are some numbers: Current PITI: $3,970Estimated rent: $4500-$5000 (there are several homes within 4 blocks of mine that owners have turned into rentals and I've been able to compare online pics to our home, so I am confident this is a good estimate)Sq ft: 1790Estimated sale price today: 1150000-1250000Mortgage balance: 612,000I would self manage. 

Or ask the third owner if they would also consider selling, so the whole property is sold.Whether a partnership or LLC, follow the Operating agreement. 

There are a few DSCR lenders that will allow you to operate a rent by the room strategy as long as the strategy makes sense, and no one related to you is one of the tenants.

Focusing on the foundational basics and your operations is more important long term.   

I operate several mid term rentals and I'm still a big fan. 

Banks aren't really in the business of lending to real estate investors anyway...they focus primarily on "operating entities", but they can be done.

I know if we operated short term rentals I would need additional VAs plus it would be more headache for the team. 

As a beginner, I want to operate an ethical and sound business.

You learn a lot of operational experience by just owning 1 rental as a long-term rental.

Heloc or DSCR HELOC so you can operate with cash in hand.