My advise would be for you to do an extensive amount of research on the benefits of owning your properties in an LLC, and then make your ultimate decision from there.

Ultimately, it will be some multiple of NOI and that multiple will be dependent on the risk level of generating it.

Ultimately it is an appraiser you need to sell, not me or your LO, and as always with sales good products are easier to sell. 

For more info on the various neighborhoods in the Cleveland market check out The Ultimate Guide to Grading Cleveland Neighborhoods.

Ultimately, I'm interested in renting out my home to people who need housing for longer than 30 days but less than a year. 

Hey @Matthew Terry - I think you have many valid questions, but I also think they're ultimately not all applicable or relevant to your main question. 

Depending on how much equity you have in the property, and assuming you could raise the rent to help your cash-flow problem, might be worth considering a cash-out refinance and taking that money to invest in a MF in California, if that's your ultimate goal.

I think that after that, they want you to take another course which leads to a larger cost but will ultimately open up their lenders for longer to you?

While ultimately, I think it worked out for me, I'm looking for another property now and would not use HomeUnion again. 

The only thing I would say to keep in mind, which you are already beginning to address, is to make sure you do ultimately get unit 2 up to market rent.It sounds like this should be a pretty good deal.