This is a the perfect vehicle to use for short term like buying a  property with cash, then refinancing the property to pay the line of credit back in full, and use it again.   

I'd also never pay $700 for an LLC.

The most important rule is to have the cash flow of the new property be able to pay all its expenses, mortgage, AND the line of credit back.

We do a small fruit basket and 2 bottles of wine (1st one complimentary, 2nd one, there's a "pay envelope" $10).BUT nothing says welcome to Eugene, Oregon like a couple of joints... :-)(just kidding, but depending on the Guests demographics, we can direct them to the best dispensaries...)

To pay for this, I used a heloc on my current home.

If you have cash, you could pay off the underlying loan2.

Don't let them choose for you.Just inspect what you expect....Also I would talk to housing office in Memphis to get a feel of how many people are on the Section 8 waitlist, what kind of rents they pay, what zip codes are they targeting, see if they have any stats about how long tenants stay and average rent.While a lot of people try to look at google street view to get an idea of the neighborhood, there is no substitute for visiting in person.

Also, providing value to others at a high level will pay off for you in the end if you stick with it.

I have found that they worked really well when it comes to getting better tenants and better rents, and having less hassle, less headaches, and then getting a higher sales price; without paying closing costs or realtor fees.

I’m not sure where to go from here or what, if any recourse can be made to recoup my money.My take is you get what you pay for & low interest is not worth the crap we had to ho thru and in the end, they didn’t come thru but will brag how they close hundreds of deals a month.well, they didn’t close this one!