I don’t believe it is that simple.

There is also potential to have a 4th bedroom with a simple layout change inside but I haven't decided that yet, as it would be on the smaller side.

I try to keep it simple. 

If I were in your position, I would keep things as simple as possible and focus on building equity to save money for my next property.

You won't believe how effective that is.Accordingly, it makes sense to get the documentation that the largest most successful landlord is using in your property location and follow in his footsteps by capturing his language and process.

I personally found I’m good at it if it’s a simple job, normal easy walls, but hire out if its 2-story height, painting cabinetry, wood windows etc as they are a all a big pain.

Reverse mortgage short sales are very simple.

Simple.

Sorry, it's some simple math. 

If the dynamic had been as simple as "you need an LLC" I would have gotten one for them, in fact Renovo pre-approved me but did require an LLC prior to closing, in Illinois can be done on line and I think it a 10min form to complete, $150 fee to expedite and I had my Articles of Incorporation the next day.