Maybe there is more official terminology for all of this, but this is how I think about new opportunities.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Does anyone here know how to properly structure their LLC to get the most amount of business credit?

I had it under my Personal name and this property is also still in my name which I hope to put into an LLC as soon as I find the proper bank and possibly do it prior or after closing on the refi.

Have proper insurance4.

There are some that do, but so far I haven't heard of one that provides as much coverage as the insurance companies that specialize in short-term rentals (CBiz, Proper, etc)....so if they do you'll want to see what they do cover, and what they don't cover.Mike

They'll tell you which forms to complete and the process to properly reassess if they do in your county for your situation.

You may want to hire someone to consult with to make sure you are doing everything correctly.The issues that I normally catch are people not properly allocating expenses to business and personal.For example, mortgage interest will likely be split between personal(part where you live) and business(area where tenant live).Furthermore, I often see people deducting the full mortgage payment when only the payment to mortgage interest / real estate taxes are deductible.best of luck!

You can actually make stains worse or permanent if you don't deal with them properly. 

I don't see why you would go through the headaches of running it when you are better off having a property that will bring in proper cashflow and wont be a sore for you.