Another option is a Debt Service Coverage Ratio (DSCR) loan, which bases approval on the property's cash flow rather than your income, making it ideal for self-employed investors.

Accoridng to my math that would be 782k roughly to cover agent fees, title, and wholesale fee.

You could also entertain rental arbitrage or cohosting for a lower cost barrier of entry to the STR market and start cash flowing to supplement your W2 income to expedite the time it takes to get to a buy and hold.

With asset based or DSCR (debt service coverage ratio) loans or rental specific loans, lenders calculate the income by the PITI (principal, interest, taxes and insurance) to qualify for the mortgage loan.

Some of the best asset protection actually comes from a combination of LLCs AND umbrella coverage.  

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.

Things like:- having them name you as an additional insured- having their policy be Primary and Non-contributory- Requiring that their policy provide 30 day notice of cancellation- Having their policy waive subrogationThe Tenant should have General Liability, Professioanal Liability, Workers Compensation, Business Auto, and possibly Accident/medical coverage.

This evaluation will determine if the property's foundation and structural integrity are sound.Insurance Assessment: Check if the property has insurance coverage for fire damage.

I believe that under a standard title insurance policy, building code matters, zoning and other governmental restriction on the use of the property are excluded from coverage so unless you purchased an extended form title policy there probably is no coverage, but it never hurts to submit a claim. 

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.