There's also the option of sweat equity if you don't have the capital to pay for the remodel: In other words, buy the materials and do the work yourself over time.

It sounds like you're in a challenging situation, but there may be some options to explore before considering selling your home.

Articles of Organization (depending on the entity you choose), Statement of Authority, Operating Agreement (can be optional), Employer Identification Number (EIN).

But, for the sake of the renovation portion I would greatly appreciate the thoughts and opinions of what options you all recommend and what has worked well for you.

If you use an independent agent they should be able to access but if you need help shoot me a message.I'm sure there are other options for it but this works for us.

Is a personal loan an option? 

If you listen to David Greene on the bigger pocket podcast, you'll know he even believes long term equity play is one of your best long term options. 

If the LLC is an operating business..... lets say providing roofing services with annual revenues that are consistent or even better increase year after year for 10 years, lines of credit or other lending options might be available that aren't available for a new business. 

That is why they are probably pushing hard to get you to accept this applicant.Another option for you is to negotiate a fair Termination Fee and then have them turn everything regarding the applicant over to you to review and sign YOUR lease if you decide to continue.If you want to be cheap, then they'll probably keep pushing back and make this messy.

But I would like to also know what options are out there.