It also confirms the amount of security deposit and the lease ending date.

I also require additional security deposit and sometimes a guarantor if they were approved in this manner.I also agree that this situation sounds like a pattern not a one-time mistake or short term tough situation that caused this.  

If I were in your and/or your mother-in-laws shoes, I would go to a local bank and use the free and clear house to secure a $150K+ line of credit. 

In contrast, a traditional TN LLC may face challenges due to limited charging order protection, potentially making it less secure against creditor actions.To address these concerns, some investors use a two-tier structure where a TN LLC—holding the property—is owned by a Wyoming holding LLC, benefiting from stronger asset protection laws.

You'd need to show the income on your tax returns and/or have a lease and first month's rent/security deposit for the unit you were living in.

Running the numbers on paper is one thing, but actually securing bookings at your target rate is another.Sounds like you’ve got a good handle on your market and what your guests are looking for, which is key.

@Bruce Yi, depending on your state's laws, request a higher security deposit to reduce/offset the risk.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

Over the last year, I've developed a passion for real estate and want to be able to use it to generate income and secure financial freedom in the long run.

I would look FAR AND WIDE for someone to do an investment property HELOC -OR- go to a bunch of banks and CUs (including who you bank with now) to find someone to provide an unsecured (or secured if you have other collateral) LOC to get rid of the high int debt.