I don't want to be too premature since I don't own the house yet. 

Hello BP,I have been lurking on BP for months reading posts and listening to podcasts, Studying real estate reading books. I worked on my credit (743) and obtained a second job. I also obtained a partner from work tha...

@David CarrascoWelcome to BP and a premature welcome to Colorado Springs.

@Erik Hitzelberger - I agree there are a lot of variables that still need to be answered, I had this idea prematurely but figured I'd make an initial post and add data as I get it, or I might not do it at all.

If you are holding it as a rental, you will have to deal with a premature failure yourself.

I took a break from this sight as a result of some of the negative rebukes and premature accusations that I got from some of the posters (not all).

With hopes of using it as passive income in the future.Am I on the right track in suggesting to pay this home off prematurely? 

The deed hasn't been sold, so you're a little premature on your concerns.  3.  

I figured the LLC idea was a bit premature but just wanted to see if anyone had experiences with it for future reference. 

Short sales don't exist today...I think you are mixing your vernacular up or, if you really mean a short sale, you are premature getting into this side of the market.