If you did not and it’s unsecured debt you could be out of luck on some or all of the money as depending on his situation unsecured creditors in a bk may receive pennies on the dollar depending on what he can afford and if converted to a ch 7 you would get wiped out.Even in 2nd position he could argue the property is underwater and wipe out your lien.

I converted my short-term rental to a long-term this year.

We're not in Dallas, but we converted our STRs into midterm rentals years ago in Denver and Colorado Springs.

@Krysten Zarembskihi and welcome. i have an LTR that i hope to convert to an MTR in a few years. 

And I may only start getting enough traffic to convert in about 6 to 9 months, that is  IF I am good at learning the SEO and implement it as I should.

You should have no problem converting that basement into a legal unit as long as all codes are met.

And at the end of raising the funds it would be converted t US dollar anyway, the benefit to raising funds through crypto would be international but the US money laundering laws and KYC is conflicting with that therefore adding more cost but also a great idea.

- then get with an accountant and discuss whether it makes sense to convert your LLC to an S-corp.

I'm closing on a house that used to be a single family, but was converted to be a duplex.

Worst possible outcome the 3 acre lot gets converted to 4 lots utilizing a Parcel Map ?