I'll send you a message to get more information from you. 

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

Any information would be greatly appreciated!

I was able to get more information on the property then if I didn’t know the seller and I’m still able to contact the seller if I have questions.

Will the title company put this property under our LLC name, and won’t be required to legally inform HUD/tax authorities. - will it influence property taxes once we move to conventional loan in 3 yrs? 

I would also add that you join your local REIA chapter (Real Estate Investor Association) as it will allow you to network with other STR owners and get more location-specific information. 

Quote from @Tom Server: I’m looking for advice on the best way to access about $100k to pay off my 401k loan, credit card debt, and cover some rehab costs.Here the information-  I purchased 2 properties last year, 1 is a rental property that i had for about 8 months, the balance of the mortage is 170k, worth around 300k .

I reached out 1/25/23 for another update, received a response 1/27/23 that they are working through the influx of information requests and they would get back to me soon.

Quote from @Abhijit Roy choudhury: Financial Crime enforcement Network, requires reporting of Beneficial Ownership Information filing by 01/01/2025.Does this apply to us, Rental LLC owners.

Just given the information that you provided, I would say buying a house where you can rent out rooms or a separate apartment is a great way to start.