Over time, I’ve accumulated more cash reserves and don’t need as much flexibility, but I’m actually in the middle of a refinance right now using an interest-only mortgage—because the pricing with the lender and the corresponding ARM is more favorable than a comparable principal-and-interest loan.The key with these alternative or "exotic" mortgage types is that you need to be financially savvy and have a solid plan.

I'll admit upfront that I would never own rental property in CA, so that colors my response.I'd offer the tenant up to $10K to leave immediately, keeping the eviction off their record, then sell.

What financial targets do you have?  

NYC laws around rentals—especially short- to mid-term—can be tricky, so you’ll want to avoid any compliance headaches.The biggest challenge with this plan is finding a rent-stabilized apartment that makes financial sense and actually gives you breathing room.

You need to look at all the financial numbers of the business/ hotel and owners won't release them until there is a contract in place.

Tenant issues are more likely to arise and then you have the owner....many aren't qualified expertise wise or financially to weather the storm.

If your partner does a conventional loan, you would sign allowing the mortgage to be recorded, but you do not need to sign as personal guarantee on the NOTE for a conventional loan either!

The borrower's financials play a big part as well.

My LLC is registered obviously, then I received a form in the mail once the property was recorded after purchase. 

A couple of things I like to tell my newbies-Owning a short-term rental property can offer significant financial benefits.