There are some additional benefits outside the reduced liability component, particularly for holders - like owner privacy/reputational risk and tax efficiency using the strategy that Joshuam alluded to.

Quote from @Wassim Moukarzel: You can usually borrow around 75% of the equity, not the entire amount.Yes, you would be taking on additional debt so you need to crunch the numbers and ensure the rental will still cash flow after borrowing against the equity.

Surprisingly a lot of companies don’t like ensuring log cabins.

I’m always looking to be more efficient, so this is awesome feedback!

This helps ensure you are getting enough value from your improvements to not only cover your HML but also recoup your initial investment costs and put some more funds back in your pocket than you began with. 

A CPA can help you make informed decisions and ensure that your finances are in order.

In doing so, you will become astonishingly efficient at running numbers, interest rates, PITI, taxes, etc, off the top of your head.

The next level is to ensure that you maintain this capital and make it work for you.

For example, if one unit occupies 25% of the property, you would allocate 25% of the mortgage and insurance costs to that unit.It's also a good idea to consult with a tax professional or accountant to ensure that you are accurately reporting the income and expenses for your property and to ensure compliance with any relevant tax laws.I hope this helps and good luck with your property! 

Yes, I am looking at multiple options includes selling it if that will be more cost efficient.