With the duplex, you can do both rental options.  

I’m hoping it will get me a better interest rate and payment so my rents can cover the mortgage.I will be reaching out to you guys to see what my best options are.Pretty cool to have this community to help figure out problems  It depends on what you are trying to accomplish.

If the spouses co-own an LLC together the only option would be if they married couple resided in a community property state allowing them to disregard the entity under Rev.

Quote from @Blake Winiecki: Figure out how much you want/need to earn, then reverse engineer it to see what options are available. 

Over the past several years it has seem there have been more and more options.

I optioned the property about 4 years ago..

Sounds like you have some options which is great man.

But this is really your first touchpoint with potential guests who are scrolling the endless options of airbnb, vrbo, etc.

Cleveland almost seems like the best option because of the affordability and rental demand, but worries me due to the high property taxes and lack of population and economic growth.

Hard money loans are another option for short-term financing, especially if you're looking at fix-and-flip opportunities.