The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

I have 2 flips in progress and 6 long term.

For long-term loans the loan is usually based off your credit score and the property's cash flow for investment properties.

I’m also based here and have experience with short-term rentals, property management, and work with investors like yourself.

I'm looking to build a Casita/poolhouse for use as a short term rental in Summerlin.

Second, in terms of asset protection, LLCs are not invincible, but I think what many don’t understand is that they are not designed to completely shield your assets from liabilities, on the contrary they are designed to contain and isolate liabilities.

Short term tenants are not protected by the the eviction ban.  

I'm going to try and see if any of the long term neighbors want to do it, lots of pre-gentrification folks still here who might be happy to.

Not all homes are great long term rentals! 

Diversifying geographically can also reduce risk and increase long-term returns.For example, there are several markets across the U.S. that are ideal for new investors because they offer affordable entry points, reliable cash flow, and strong economic fundamentals.