You may need an independent appraisal if the value of the property exceeds $5,000, as the IRS generally requires this for non-cash donations of significant value.Capital Gains Considerations: If you've owned the property for more than a year (which you have, having owned it for 10 years), the house is considered a long-term capital asset.

However, if gaining expertise in these areas is essential for long-term success, I’m open to learning.I appreciate any insights you can share.

Thank you.While I am lending exact direction, you will need to dig a bit more on the statutes, to gain full comprehension of the statutes in reference your question.     

Additionally, the rental arbitrage strategy is not investing, its operating a business.... an extremely risky business.

It's hard enough to find food management much less good builders from a distance.I've heard good things about Columbus, but I'm just getting my feet wet and gaining some familiarity with Cleveland market.

There is no additional valuation for the STR business.In the end, past performance is not an indicator of future success.

It'll take time but can really pay off if you stick with it.I'm in Los Angeles and I've investing in TN and GA in the past, and currently investing in SE Wisconsin (your area).Let's connect and discuss the market.

Quote from @Eric Huntermark: Additionally, as I'm thinking about conventional loan products as well.

There will also be closing costs to refinancing into DSCR.Lenders need 6 months to refinance a loan, anything sooner, you're probably paying a good amount of points / DSCR has to be rock solid.There also may be additional costs in maintaining your property.

If you need any additional help I will tag @Crawford Peay who is an experienced  property manager perhaps he can help.