Financing and Complexity: An LLC can make financing more challenging and expensive since banks often offer better terms on personal loans for real estate than LLC-held properties.

All of which nothing will help him because the loan is still in his name. 

I have some upcoming repairs needed that outweigh the Homestead Exemption and plan to make my primary home a long term rental in the next 7 years but the repairs can’t wait.  

I buy and hold and do short term rentals and mid term rentals.Located in Racine Wisconsin  Hello Gabriel: I also live in Racine County there are some great deals our way and including southern milwaukee county too!   

Here in the USA you need what's called a "construction loan" and it's also very hard to find a company that will insure you if you're a newbie.

Get a 50% LTV loan and buy another property just like the one you own. 

Buyers could look at a DSCR loan which does take into account the revenue from the rent but it doesn't count towards the value of the property.Now, buyers could look at a business loan of some kind but I am not sure they would qualify if it is only one property and even then, the value is mostly in the property and not the possible revenue. 

I would try not to tie up any of the principal in down payments.Personally, I had a family member do this same thing, but they used an investment portfolio as the collateral instead of real estate.If you play your cards right, this might be the only short-term money you ever need.Please let us know what you end up doing.

I'm looking to use a Fannie Mae Renovation Loan. 

Keep in mind, you should have already had a conversation with the hard money Lender to know their terms and process, and be ready to perform.