Are there any guidelines for situations like this where the tenants would need to stay somewhere else while the renovation is in process?

I’ve done my best to research the process but wanted to get additional guidance.

I will be able to cash out my original down payment + 30k more if I wanted to but as im going through the process I was wondering in the future if I pursue investing full time how do you still get approved for mortgages?

Additionally, I'm based in Michigan, and I would like to know if anyone in the community is familiar with companies or professionals in Michigan who can assist in the process of forming an LLC and managing the legal aspects of transitioning Airbnb properties.Any insights or experiences you can share would be immensely helpful as I navigate this potential transition.

Your question makes me want to check my state rules (Illinois), because I've thought many times that I might as well manage other people's STRs if I have all the processes set up to manage mine anyway.Finding a cleaning crew for 1 STR is difficult, but 5 is easy. 

Thus the whole process costing you a few thousand more.  

@Joel HuntYup, so as you've surmised, your borrower processed the 1099 incorrectly. 

The result of 4 total units is the same as the lot split but it seems like it would be longer to go through the process of splitting the lot as opposed to just adding a primary SB9 unit which you can then add an ADU to.

I am in the process of replacing Evernest

Finding comps on MTRs is a long process and if you choose to do it yourself make sure you look at a variety of sources: Furnished Finder, Airbnb, Zillow, etc.