I'm in a final round with a company but steady income has not been secured yet so if I could at least cash flow that would really help me stay afloat for the time being.Obviously I could market the unit as-is and potentially rent to someone but won't likely be able to rent to a section 8 tenant which I was hoping for down the line.I was considering starting off with 3-month leases with auto renew and I have been VERY clear with him that if he is unwilling to pay on time that I still am treating this as a business and am not afraid to evict him.

I inadvertently restricted who could reply....so that not even I could reply to my own post.)Debt to Income ratio limits exist for a reason: you are over leveraged.

I guess the worse case scenario is converting the STR to MTR/LTR if I cannot get enough income to sustain the business.

Tax- property income tax in the Philippines.

They were having trouble with their third party payment service before the current crisis but I wonder if the problems they are having now has something to do with them not handling customer payments properly (not putting in a sort of escrow account). 

My true log was not as much savings but he doubled my lost income at the same time. 

We want to utilize our income to set us up for financial success as we get older and for generational wealth for our kids. 

I think you have to pay $1500 to franchise tax board if you are from CA and if you have LLC regardless if you have zero income.

This is a matter of control and accountability.

Not really, as long as you are up front with a lender, most would just require you to show them the establishment of the LLC/accounts and then could proceed with that.