The process was fairly smooth for me.

Dan,The process to create an LLC in Illinois is pretty simple.

Let me know if you have any questions on the process of appreciation and even tax advantages, especially since y'all are engineers!

These loans require taxpayers to be current on all previous tax filings, highlighting the importance of expedited processes for obtaining necessary documentation, such as tax transcripts or copies of prior returns.

Contact your lender, and they will start the process.

I'm currently in the process of gathering more details from my property manager.

We are willing to provide additional documentation to support our request and discuss any potential steps to ensure a smooth and fair process for all parties involved.Thank you for your attention to this matter.

However, this is not a cash out refi.Cash out refi is when you refinance an existing loan, with another one (i.e replace the loan) where there is enough money left over at the end of the process where you can put some proceeds in your pocket.When it comes to your strategy - just make sure you're being conservative with your numbers on the purchase / rehab if you don't plan on using other proceeds to payoff the HELOC. 

It has been very challenging and the property sat for 3 months waiting for the claim to be processed.

We're just about ready to hire an attorney.