Dan,The process to create an LLC in Illinois is pretty simple.

I'm currently in the process of gathering more details from my property manager.

We are willing to provide additional documentation to support our request and discuss any potential steps to ensure a smooth and fair process for all parties involved.Thank you for your attention to this matter.

These loans require taxpayers to be current on all previous tax filings, highlighting the importance of expedited processes for obtaining necessary documentation, such as tax transcripts or copies of prior returns.

The lender will require that you live in it for 12 months and then you can rent out all of the units after that and start the buying process using the same strategy all over again after that 12 month period.  

Second, we’ve refined our screening process for the clients we bring on.

Contact your lender, and they will start the process.

Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).4) Adding an ADU is a slow process.

However, this is not a cash out refi.Cash out refi is when you refinance an existing loan, with another one (i.e replace the loan) where there is enough money left over at the end of the process where you can put some proceeds in your pocket.When it comes to your strategy - just make sure you're being conservative with your numbers on the purchase / rehab if you don't plan on using other proceeds to payoff the HELOC. 

Here in Cali we don’t even have a date on when we can hope to start an eviction process.