However, if long-term stability is the priority, sticking with the original financing approach might be the better move.

Hi Juliann, before moving forward, it’s important to determine the level of renovation you're comfortable with.

Hello @Timothy Hilario,I think there are benefits to both strategies.If you move out of your apartment and rent it as a mid-term rental, you could see decent cashflow without pulling equity out of the unit.

I think working with an architect to build something really unique and custom is always the best move if you have the budget for it.

I’ll add that you aren’t going to move the debt to the LLC, that’s going to still be on you.

Any tips/pointers, etc?  

I'll provide some tips below.2.

More people moving to a city is more potential tenants. 

Ask your PM how to come up with some strategic incentives...possibly listing high and reducing every 7-10 days until it's rented, offer a move in special, a gift card, future rent credit, etc. 4.

@Kenneth Joseph Perfido If you’ve moved to a new state and plan to conduct business there, you generally have two options: register your existing LLC as a foreign LLC in the new state or form a new LLC in the new state.