We have a balance of 266K on the mortgage @ 3 percent interest.

I’ve heard different things like taking a Fannie Mae loan out then converting it to a LLC and the likelihood of triggering a due on sale clause is minimal.

For example:If a wrote up a contract between myself and the LLC for a loan on said money and the LLC was sued and forced to sell the property.

Glad to have you on the forum, Elwin! 

That is not a benefit for you, nor any kind of evidence that they are worthy of becoming a resident.That issue aside, I would not allow someone with a recent eviction on my property unless the "unfortunate circumstance" was unlikely to recur AND they otherwise have a strong historical track record of making payments AND they would put down a very large security deposit.

But bottom line money is out of your account and into an account you cant access or influence.

Hey Dominique,Welcome to the forums and congrats on diving into the Detroit market!

Have you posted it on bigger pockets marketplace?

.• How to think creatively about building wealth.Once at the property, the kids explored, asked questions, and saw firsthand how opportunities are created through smart investing.Involving children in real estate teaches them:• Financial literacy in a hands-on way.• Entrepreneurial thinking and problem-solving skills.• The confidence to believe they can achieve financial independence.It’s amazing how small moments like these can inspire the next generation to think bigger and dream bolder.How are you involving your family in your real estate journey?

This will also make your cash-on-cash return go down.