@Denis Orlov I don't do STR, but I've rented one of my personal properties for arbitrage before. 

Hard to say one way or another without knowing your personal finances, goals etc., but it seems like a good deal. 

Quote from @Jokari Trueheart: HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more.

For example, they won't need to cover your personal belongings (furniture, clothing, etc.) because you won't be living there.A landlord policy should cost about the same as a homeowner's policy; it just changes what is covered.

I heard that if you move the personal mortgages to an LLC they could get called and we would want to avoid that3.

I personally would go that route as it would probably be less expensive. 

Quote from @Dereck Olson: Hi Nicholas,  Just a thought from the possible tenant's perspective, but filling out a prequalification form and/or providing personal information before they have even seen a place and know if they will be interested in living in the property might be a bit too much to ask. 

Did your borrowers mention securing your investment with a recorded mortgage or deed of trust, personal guarantees, lender’s title insurance, or anything else?

If the home was still your primary residence throughout 2024 and not actively listed for rent, it would typically remain classified as a personal residence until the lease began.

Our house had a garage but was walled up and made into just a storage room and I would like to make it into a little studio and sort of house hack.