I've served 26 Months in Iraq attached to a Recon Unit and Have earned the Combat Medical Badge for rendering aid under fire, and the Purple Heart for wounds recieved in action.

Since you have no historical taxable basis to write off against that sale price, you may find yourself having to pay taxes on the full sales price, not just your profits.Happily, there is a way to heal these self inflicted wounds.  

Then I wound up leaving my job after just 4 years. 

In fact, I avoid it as they charge like wounded bulls.And as someone else already said on this thread I think; DISCLOSE, DISCLOSE, DISCLOSE!

I wound up getting a direct supervisor to respond at the company they worked for as they put them down as a personal reference. 

We were shocked b/c we hadn't seen that info/possibility anywhere, tho we were brand-spankin'-new and might have missed it.That particular property wound up going back onto the MLS, where, after failing to sell for 5 months, it again went to auction.com, where it finally sold for 21k more than our offer (tho, as an aside, the sales price reported in the MLS was a lot less than I recalled seeing it go for in that final auction, which I watched).I was so mad at auction.com that I haven't bid again, haha.

For sure if the 2nd HELOC wound up in 2nd position, superior to the 1st HELOC, the 1st HELOC lender would want to know that.Like this:1. mortgage2. 2nd HELOC3. 1st HELOCIf the 2nd HELOC ended up in 3rd position the likelihood is that the 1st HELOC doesn't care (it doesn't change their position, but it does increase payment risk since now you have a lot more credit available, & thusly more potential payments that could throw their original underwriting out of whack making you a higher risk loan they didn't sign up for.)1. mortgage2. 1st HELOC3. 2nd HELOCbut I would notify them and ask their opinion since it isn't my money. ;-)Keep records of who you talked to and when, so that if whatever advice they give comes into question, you can show you were following their directions. 

So you wound not create an LLC or other business entity to hold rental property.You also should not open a business bank account for the property.

It turned out very poorly so I suspect he's still licking his wounds pretty big-time.But pay your debts....even to a-hole Realtors (if that's really the case"-)

But reparations is a debt that is owed, diversity and inclusion is a band-aid over a wound to make people feel better about the horrible truths.