If not you can do a DSCR loan or a fix an flip loan, there aren't any income requirements for either of these loans, and with $70,000 of Cash, this should be easy to get financed. 

The condo has an HOA fee of around $1,100 per month and offers the option for short-term rentals.

One key differentiator is first time investor vs. first time homebuyer - it will be much easier to qualify as a first time borrower for an investment property loan if you own a primary or at least have done so recently

It was interesting in terms of how a good lawyer can get past an LLC. 

Have you explored alternative financing options, like hard money loans?

Hi,Does the type of lease term make a difference when wanting to do a DSCR type refinance loan?

If we do a long term rental lease we're worried the place will get destroyed by renters.

You will have some bridge loan options here, but your more attractive options may be limited due to seasoning requirements with commercial aspects.

Once you've narrowed down your options, decide if you prioritize rental income, long-term appreciation or a mix of both.

Can you give us details, price, downpayment, loan terms, cap rate etc.