Are there specific pros and cons I should consider when it comes to refinancing, forming an LLC, or even continuing with the rental given the negative cash flow?

Specifically, the Groveland and Oakhurst regions seem promising if I can find the right deal.I would love to hear from anyone with experience in short-term rentals in these areas.

It’s also wise to keep debt management in mind as you scale—balancing between leveraging opportunities and maintaining financial stability is key.If you have any specific questions or need further insights into the Memphis market, feel free to ask.

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

Specifically:1.

My advice is to try to be more specific with your inquiry and your boy-box in general, to achieve the best results. 

Here are a few specific questions I have:1) What steps should I take to begin?

.- Many PMCs have processes designed to weed out non-serious prospects, but often these processes aren't adapted to the specific marketplace or changing markets.--- Since the PMC process is NOT working, what are they doing to change it to improve results?

It is very important to establish your buy box (with specific states) before jumping into this game. 

I work specifically with investors and have a portfolio myself.