Also, if I pay contractors using a credit card, am I still required to send them a 1099-NEC?

I have found that it is quite simple to self-manage a portfolio of 30-40 short-term/interest-only loans using a combination of QuickBooks and an XL workbook (1 worksheet "tab" for each loan). 

@Jordan Kaylor Using a HELOC to purchase a property and then refinancing into a conventional mortgage is technically considered a cash-out refinance.

If leveraging equity feels too risky, you might consider using a portion of the equity to fund your next property while keeping reserves intact.

Make sure you account for all of your interest load if youre using a Heloc for permanent financing as you suggest.

We can block all we want, the same entity will be using a new and unblocked number.  

It keeps everyone on the same page.3) The downside of using a PM who has their own maintenance company is that you might end up with larger bills as it is a profit center for them.

Furthermore you can vastly increase your returns through leverage using a non-recourse loan but that will definitely trigger UBIT but again the numbers can still make a lot of sense. 

Also, if you buy using a hard money lender or cash, Zach Starnes can do re-fi's off the appraised value shorter than the typical 6mos and then you might not need any money down if you buy at the right price.

This is for basic informational purposes I am not an attorney and this is not legal advice.First, if you offer to purchase a property using a HELOC to fund the purchase you cannot later back out of the agreement because you couldn't find PML or investors.