Will think twice about them in the future. 

@Jessica ZolotorofeHello From the Future ;)Ive spoken to a couple title companies, and transactional lenders and I have not heard about double closings/backtoback closings being illegal.

I am new to the world of REI & a late comer.  I want to build wealth for me & my child and feel stuck.  I depleted my savings when I stupidly renovated a house on which I'm not the sole owner on title. I am cu...

They're good to have open access to capital/cash/equity to a property ahead of time so you can execute a deal or purchase when the time comes on a split second decision (versus having to apply to a loan at that time which might take 20-45 days to get approved/closed/etc plus by that time you dont know what your future income/credit/assets will be like in order to qualify anyway).The second use is sleep at night factor and having a reserve of capital in the event an emergency event occurs in life.For these two reasons is why I use lines of credit.

This is exactly it - it is impossible to know the future. 

However, neighborhood limitations may cap future appreciation.

However, when you sue, you also open yourself up to future issues with that neighbor.

Finding the right price does not associate with market stability or future performance assumptions.

LOC's can have negative effects on your future purchasing power if not set up correctly and keeping in mind you can "never" use an LOC as a reserve or asset.It will always be a debt burden and can over inflate your back end debt ratios depending on the W2 income and your liabilities.

You will need this money in the future.