Wouldn't you rather avoid the claim in the first place along with the time and expense, increased insurance premiums, being limited to surplus insurance carriers etc. rather than absorb claims simply because you have an entity? 

Okay so am I hearing both of you correctly that it would be best to simply sell even for a loss vs. holding it and renting it?

Have you talked to the tenant and simply given him the option of breaking the lease?

When there is a recently acquired long-term rental, lenders can simply throw in the lease agreement and use 75% of the rental income from that, but on a short-term rental, there is no lease agreement, so the only way to document what the actual cash flow is, is by using Schedule E of your most recent tax return filing. 

Show people what the investment looks like over the life cycle otherwise people simply don't have enough information to go off of.

Our existing home will need to have some minor repairs completed prior to attempting to rent out - paint, drywall repairs, etc. 

If we could afford the price point in our local market we would stay in the Southern California market but its simply too expensive. 

This is my first property not in my state and first one I attempted to refinance into a STR/LTR. 

This would be very much like a borrower having the property rented at break even.So in short, a LO simply saying "he wouldn't finance" without running full credit and verifying income would be short sighted, in my opinion.July 3, 2022To Whom It May Concern,On November 14th, 2018 one of our holding LLCs, [LLC Name Redacted], entered into an agreement for sale on the property at [Address Redacted].

PM isn't a great place to simply save money- it's a 24/7 job and there's huge liability if you don't know what you are doing.