The owner of the property is a relative, who purchased the property (condo in Miami) for $200K in 2014.

I will caveat that the ones that I know focus in So Cal, so I'm not sure of the intricacies of the Bay, but I would suspect similar issues. 

The unit has a home warranty so most maintenance issues I just have to call in, so there wouldn’t be a need for a property manager. 

@Brandon Hall could you shed light on this issue filing a state tax return to preserve a loss for a K-1?

For the next 5 years real estate valuations stayed relatively low, I saved and saved and before I knew it I had a duplex.

They are NOT okay with a Living Trust owning the LLC.Has anyone run into this issue, and do you have a workaround (if any)?

Issue a mandate to the PM that any repair over #XXX needs an Itemized Time & Materials Purchase Order to be completed by them and your signature of approval, without which the PO is denied. 

We have not been able to rent due to permitting issues.

Surface the material issues.  

We literally just got through the 6 month hurdle to get it into the LLC; now we are told it has to be a second home mortgage and back in my name to pull equity.Current loan is 237K owed; 450K+ apraisal value Yes - absolutely no issue getting a DSCR Loan Refi with an LLC, its actually typically preferred!