If the use of the funds are for business purposes, like investing in real-estate, you will have an easier chance of qualifying for a loan documentation and income wise.

The purpose of any business is to grow. 

I know you are dealing with a 3 month lease rather than a 12 month lease, but for example....Say I rent my home for $2,500 per month and have to lower my rate by $100 to find a quality tenant that is a loss of $1,200 over 12 months compared to a loss of $2,500 for each month it remains empty. 

This has been well worth it compared to the 40+ hours I was previously spending doing this myself come tax prep time.

Compare that to the performance of a new property (with that equity unlocked but also with a different interest rate as @Katie Ripp said).

What do YOU look for when roaming a new environment for that purpose?

I find that depending on the market $300-500/mo are fairly normal and if compared to what you would pay with a single family home on some utilities, maintenance, and management, it's a good deal.

The reason I asked about the amount is I see people always searching for the "perfect note" when they had 100 opportunities pass right by and spend thousands to buy 5 loans a year which they could have done little work and still found similar loansWe buy non performing to get them reperforming and we also have some shorter term RTL's (performing) for cash flow purposes.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I really like LLCs compared to corporations because of the free stepped up basis for passing property to my children.