You'll have to wait 12 months to pull your cash back out with a refi based on the new appraised value.

Additionally, I'm based in Michigan, and I would like to know if anyone in the community is familiar with companies or professionals in Michigan who can assist in the process of forming an LLC and managing the legal aspects of transitioning Airbnb properties.Any insights or experiences you can share would be immensely helpful as I navigate this potential transition.

Not sure where you are based but our tenant was in TX.

I would love to chat about the property and see what type of options you have based on the zoning/buildability and your goals. 

I recommend looking into areas near economic bases - close to Nationwide Children’s Hospital, Ohio State Campus, New Albany, etc.

The agreement should also be some percentage based, if they do not collect you don't pay anything.

To me it sounds like you've got a lot of the bases covered but may need to update a few things to make it more appetizing.

a lot of these other software's are really excel based . its better to already build off of your own with metrics that interest you in the project 

So, an honest appraiser won't value it based just on the high level numbers you are looking at.

I would suggest that you find out the military bases nearest to your rental and see if they have specific sites, FB pages, etc. where they advertise.