If you still can't fill the place with decent tenants, then sell the property and save your sanity and your money.

Maybe, maybe notYou have to weight the pros / cons along with the risks.Your BP mentions you are 'new to real estate'.You are getting into a new asset class along with a business(I consider a STR more of a business than an investment).How much will you save in taxes?

Your situation isn't to complex for the right tax professional to save you money. 

As I’m starting my real estate investment journey, would it be a wise decision to rent out my primary residence and seek a temporary rental for myself while I save money to purchase an additional property for investment?

Fewer doors to sell.I would compare loss of revenue to savings in loan.  

I'm definitely saving this post.

Where I live it used to be 30 days - and I didn't think that was enough time for folks living month to month to pull funds together to save up, look for a place, get a deposit and 1st mo's together etc... so I always gave at least 60. 

I care what they are doing with their personal savings. 

Goal is to create long sustaining growth and cash flow that I could eventually sell or use to eventually secure a retirement home and place of my choice! 

Understand that MMLLC will have a partnership tax filing obligation without any tax savings.