Good morning @Cosmo DePintoHuntsville is an exceptional market where I’ve personally seen investors’ portfolios thrive.

One of the biggest issues is probably borrower default—whether due to mismanagement, market downturns, or unforeseen circumstances, lenders can end up in long, costly recovery processes.

If you opened the exchange with the intent to hold the property for investment, and then in the future circumstance changed which caused you to reconsider the use of the replacement property and convert it to personal use, then a period of time less than two years might be reasonable.  

Not sure how many PMCs you've had bad experiences with, but we'll take exception to:"Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health)".BP seems to have more threads about screening mistakes by DIY landlords as opposed to PMCs.Now, if you'd have mentioned Maintenance, you'd get no argument from me:) Even the PMC industry acknowledges maintenance as one of the biggest challenges.Rereading my post, I kinda see how I sounded negative toward PMs.  

Quote from @Scott Trench: @Scott Johnson we typically don't delete forum posts, and I don't see a reason to make an exception here. 

In Texas, as a licensed agent, you’re generally required to use TREC-approved forms for real estate transactions unless an exception applies, like (I believe) leases longer than 1 year or where no TREC form exists.

Though I have purchased some with a mix where 330+ days a year, people parked in the driveway and the street except when there were snow bans, but there was enough room to fit everyone in the driveway/parking lot, and that was a hassle to deal with some days. 

Again, the LLC does nothing except own public securities.Here is the relevant language:Exclusion From Partnership RulesCertain partnerships that do not actively conduct a business can choose to be completely or partially excluded from being treated as partnerships for federal income tax purposes.

The goal is to ensure that the property remains viable even if circumstances change, like dealing with a non-paying tenant or a market downturn.

If you still can't find a bank to do it, there is a standalone DSCR based 2nd mortgage that can use short term rental income to qualify. the max CLTV is 70% but can get up to 75% with an exception.