There’s a house that need some major renovations that interested me and I was hoping for some insight as to how I should go about financing (once I’ve finished the project that I plan on buying and rehabbing in cash).

Communicate well with the current tenant about your plan.

If so, underwrite it that way and then after you buy it and have a contractor consider changing the plan to add a unit if that makes more sense.

If I already own an Airbnb property (my primary residence) and plan to purchase a new house for rental purposes, what would be the recommended approach for transitioning the existing property into an LLC?

Though in this situation I wasn't planning a renovation until April of 2024. 

And while this install seems pretty straightforward, if it doesn't go as planned, your guest will have to deal with the cable company for trouble shooting.

As others have mentioned, consider borrowing from your 401k plan instead.For those comparing the returns from passive investing in stocks and bonds with active investing in real estate, that is comparing apples to oranges. 

If you're planning on doing BRRRR, make sure to get someone who does a lot of flips.

What you need to consider is the costs to refinance possibly outweighing the benefit of the lowered interest rate, depending on the time you plan to hold the property.

I plan to form a partnership with three other friends for this deal. 1.