My question is, if we buy the home using a conventional personal loan while we househack, what would the costs and process look like of transferring the house and the loan over to an LLC?

In my state that would be an expensive change as I would be paying state transfer tax on the move along with other costs plus I would need to consider whether I wanted to buy title insurance on the property for the new LLC.

We expect to have holding costs of $15k to get through the off season and the condo is pretty updated so we would only be spending $10k in renovations (updating the bathroom and then finishes in the remaining rooms).

That's three months of mortgage and utilities, the cost of flooring, and the cost of painting.

Mortgage Costs UP - There will now be folks with a higher risk obtaining more debt, a lot more debt.

That is not reflected in the lawsuits related to this issue.You make no mention of the escrow costs or tax implications or transfer taxes or scrutiny that is involved with a deed back.

Eg if owning a house for the mortgage, insurance and taxes alone would cost you over $3000 a month (mortgage alone on a 25 year amortization for $500K is $3000 a month, goes down to $2700 on a 30 yr mortgage). 

Estimating cost for streets and utilities is just a piece of the puzzle, and likely easier, although more expensive.

@Wayne Kennoff- thanks   1) getting a personal referral is a good place to start 2) if you have narrowed down the options to a few -  contact both on the same  days and ask them for whatever  quotes  for your scenario ...ask for a loan cost worksheet  if  possible .  ...if their pricing ends up being  the same - make a decsion based on the  feel  for  cutoner  service you get when communicating with them.   3)  make sure they  disclose all the fees  related to the  refinance  ( not just their  own fees ) ..4)  reviews are   hard to  use to make a decision ( as you found out ) 5) rates are pretty high right now for rental  properties ....if you can wait to  refinance - you might consider doing so ...if you need to refinance - so be it ...Good luck 

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