Same as an LLC with a personally guarantee  magically takes away the liability from the personal balance sheet as well. 

(I'm personally happy this failed because I have two clients under contract on homes they plan to short-term rent -- one in the mountains outside of Colorado Springs and the other right near Breckenridge.) 

I personally think there is a sweet spot of deals in the $2m - 8 or 9 mil range where institutional people shy away as it's not big enough and it weeds out a lot of other smaller investors. 

personally, i dont see it as bad.

In several cases I have spent time educating them on lists, calls and the need to have buyers ready. 

Personal Financial Statement If you already have a form with all of this information, that’s great.

@Ryan Fox You really need to get with your CPA and TAX person to truly understand your whole situation.

However, it does provide a foundational understanding that surpasses what the average person knows about the industry.

Should I be raising rent with the addition of another person on the lease?

I used a HML for some and he did for others, only in that person's name.