Op.  

The OP may have investments other equity.  

The OP is an excellent example of why you need an Owner's Policy if you change the outcome slightly.Assume the courthouse search found the property was in fact landlocked, without a legal right to access. 

As OP said, hard to find umbrella that will cover STR papered insurance unless I find a carrier that writes it under my name personally and names the LLC as an additional insured (I own my properties under LLCs).  

My "lower quality" home ("Class C") in Indy had the AC unit stolen and also a recent attempted break in the second house but on paper they're supposed to cash flow.I'm not recommending that the OP go buy a $1.5+ million dollar property (SFH or duplex) in the Bay Area and try to do a long term rental. 

They seem to leave actual construction knowledge of any kind to Caveat Emptor.Anyhow, relevant to the OP, nothing stops you really from getting a license.

OP would have to go back in time to sell in 2023...

Interestingly, they've recently negotiated a re-purchase price with us IF we bring new funding to the table.The rehab is required for several reasons: (a) correct the damage the bank has allowed to happen to the property improvements these past few years (known problems include completely destroyed pool makeover; wild animals living inside the residence; flooring missing in sections of the rec center building; destruction of the decorative main entry gate mechanism; lots of dead landscaping; as well as latent defects not known to us such as working plumbing, HVAC & water services) AND (b) expansion & upgrading of the accommodations (converting the private residence to a 2-story lodge with the restaurant/bar, reception/check-in, movie room, public restrooms, gym/sauna/steam room/massage therapy room; enlarged pool & deck area with climate-controlled cover for year round use; conversion of former restaurant/bar building to a general store selling venue collectibles & wearables, selected pre-packaged foods, sundries, RV & camping items, bagged ice & a propane refill station; construction of a free-standing event center; free-standing cabins; enlarged & upgraded RV park with its own small restroom/coin-op laundry building; outdoor activity areas; new landscaping & fencing; new parking area & entry drives (personal car & RVs).We know our target audience having created and operated the former version of this resort for almost years creating an initial membership base numbering about 1,100. 

OP.  

A rehab property in a co-op has been put up for sale.