If you ask a banana farmer if bananas are good for you, he will tell you they are absolutely necessary to a healthy diet . . . and he happens to have some he can sell you.You asked if you need an LLC.

Even though I wasn't a good asset manager, I made money on my properties. 

Property has been owned for about 3 years now.  

Your son will be forced to sell or refi, and I bet you that this deal can't handle that situation. 

Existing tenant stayed in my rental property 3 years without rent increase.

He's selling real estate education, from the looks of his website.  

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

Assuming you go the HELOC route, another option to reduce your costs assuming you have decent credit is to look at credit card balance transfer promotions.Back in 2003-2004 I had HELOCs on my investment properties and interest rates were increasing.

The approach involves using a hard money lender (HML) to fund 75% of the purchase price while having the seller carry back 25% in a second-position loan, allowing you to flip the property with little money down.

Hello BP Community, I am under contract to purchase a new construction home as an investment property and I am the RE Agent.