Our LLC was solely owned by wife, and therefore a disregarded entity.  

A landlord policy can be a commercial policy or a personal lines policy.It's the same as asking if you should buy a single family rental or a 1 unit building.Focus on the coverages and disregard the name of the policy.

So on the sale of the property you put $23188 from equity in your pocket disregarding any sales commission or other selling expenses.  

This would make the SMLLC "disregarded" for tax purposes2.

Personal use also includes time spent at your place by another party under a reciprocal sharing arrangement (“I use your place in exchange for you using my place”) whether the other party pays market rent or not.Days devoted principally to repairs and maintenance are considered days of vacancy and are disregarded, even if family members are present while you work away.The tax drillVacation homes in this category are treated as personal residences for federal income tax purposes.

Generally, it is best to have buy and hold rentals in an LLC taxed as disregarded entity (for multi-member LLC, taxed as a Partnership).

Disregard.

Disregard my first statement. 

Disregarded means that it is ignored for income tax purposes and treated as if you acquired the new replacement property as an individual for tax purposes.  

Leverage 70-80% LTV (Debt): Borrow max amount of money at artificially low rates, with complete disregard to what will happen once the Fed loses control of bond market and treasuries spike. 2.