Well, of course it depends on the individual circumstances, the amount of time comitted and the capital available.

Question: I'm an agent trying to deal with an owner on a small commercial prop says once a buyer signs LOI they can get any relevant leases do their due diligence as well as do their inspection before going to contract.

Banks like proof the funds were in a bank well before closing. 

I now am more selective about loan officers as well as lenders. 

You should track your own units expenses as well so when you move out, you can quickly reclaim any expenses or depreciation you built on the personal unit when converted into a 2nd business unit which would then be included on your schedule E.You also write off half of your property taxes, insurance, HOA dues, or any shared expense.

I have some rentals up and down the Fox River as well.

Stick to areas you know well; this familiarity can greatly reduce risk and boost your confidence when making purchasing decisions. 2.

I have a call out to my accountant as well. :)

You have used home equity lines of credit to purchase investment rentals and want to know the best way to pay down the HELOCs.Between the two properties you bought, after expenses, you have $250 a month positive cashflow to use.What I like to do is pay down some principal every month with my positive cashflow.I use my extra active income from real estate commissions helping other investors to pay down the principal even more which just frees up that credit for me to use again.I know I can refinance the HELOC debt before it changes to principal and interest as it is just interest only payments as yours are.One difference is the cashflow, I have greater positive cashflow and could make the principal and interest payment in the future with the extra cashflow I already enjoy.I always get HELOCs on my income properties as well after purchasing them to pull out as much of my downpayment as possible.

I appreciate it.john Your plan seems well-thought-out, but I’d keep a few things in mind.