So the short answer is...Yes, he can still take you to court, but his first recourse will likely be to place a lien on your property.

the Scenario:We have an LLC, 2 long term rentals, 1 short term rental, 1 future short term rental about to undergone renovation.

Long story short: 5 unit multifamily set up with frontier internet.

It wasn't long after a good bit of offers that my first deal got accepted - a short sale on a condo that I would up living in while renovating.

Quote from @Patrick Roberts: In short, no.

The 3rd thing that has reshaped my entire opinion of the tax advantages of real estate, is seeing my 88 grandfather holding five quite valuable illiquid properties, long story short it’s a mess, it’s causing family drama, he is in zero shape physically or mentally to manage them, the all have cap-ex needs, again these were amazing buy’s literally multiple properties he bought for under 50k that are now worth over a million but there is probably a time and a place for owning real estate, so I don’t really have a need to own more than maybe a few properties into retirement.

I don’t worry about the electric because I use that for short term rentals.

If you're looking to make short term use of the equity and have a private lender/investor who's willing to think outside of the box, you might be able to create a custom repo agreement. 

After deducting your payoff, you've only got a little left over which would go toward covering refi costs (and you'd likely come up a bit short).

@Alex CollinsAs mentioned by Jonathan Greene.If you're transitioning from nursing to full-time real estate investing, focus on house-hacking in high-demand areas like downtown Indianapolis, Carmel, or Greenwood, targeting short-term or mid-term rentals.