Typically Conventional will end 42% of DTI and FHA can get up to 51% DTI (and based on your credit score I think you should stretch to that 51%) Just a few things to start thinking about as you are working through the process. 

. $250mnth is not good performance.

If you control how they perform tasks, set their hours, or provide tools, they should likely be a W-2 employee, requiring you to withhold taxes and comply with payroll regulations.

I’m not sure what sort of extensive “due diligence” you did but clearly you didn’t.

Cash-Out Refinance: If your Airbnb property has enough equity and is performing well, a cash-out refinance could free up funds while keeping the property working for you.

A tiered system works well: reward individual performance (e.g., quick work order completion) and team-based success (e.g., overall portfolio stability or income growth).Be cautious when setting pay expectations.

Do I go about doing this by performing a Quit Claim Deed?

How do other regular condos perform versus them? 

I will do my due diligence and extensive research before making any moves.

What was your extensive research?