Always good to get another opinion and I’ll definitely dig deeper on this and make the right decision. 

I hope someone can help me shed light on this since I'm not very experienced in this department and I need to figure this out asap.I'm having a hard time making a decision on a Cash out Refi on a Rental Property that is in an LLC.

We want to make an informed decision that's going to be best for us in the long run.

Who makes sell decision?  

The zoning will most likely need to be changed and you may need an attorney to represent you, with the city planning board, or whoever makes the decisions in your area.

@Annette Merxado welcome to BP.The decision to sell should be based on what the current property is returning (including projected appreciations) vs what you could invest that money in.

I'm looking for some experienced advice to help me make the right decision.

We picked Jake and Gino and it was the best decision we have ever made. 

I would treat him like any other tenant applicant: run credit and background check, complete application, check references, verify income with employer etc. and make a decision based on this info whether or not to add him to the lease.

Metrics like these could possible help in the decision of whether to keep it local or long-distance.