It is just a practice exercise.

I have had a HELOC on my primary residence for years and have exercised it multiple times to support investment purchases.

I figured if any red flags were raised, it would be write offs associated with someone who is not part of the LLC.It would also be entirely likely that we would have different roles.

But while you're still just running numbers as a learning exercise, you can use the crime maps on Trulia and use Google Maps to view the street.

simply do not take anyone's word for this landlock situation.. open escrow get a title commitment and see it it is actually landlocked.. if it is your remedy in the real world. is1. getting a neighbor to grant you the proper easement you will need.2. confirm from the city or county that you can access the property from this new easement..despite common statements folks will make that no property can be landlocked.. and there are remedies this simply is not true.. properties can be landlocked... owners do it to themselves.. not common but it does happen.As for the old house.. sometimes if there is no lead or asbestos fire department will burn them down as an exercise.. ( sometimes)biggest issue in many markets now is the lead paint and Asbestos remediation during the demo.. some areas they don't car.

And I know a few folks in the area in different roles. 

He wants to role the sale proceeds into a 1031 exchange.

If their agent is OK with waiting the seller can simply pay the sale commission when you exercise your option.

My advice is to talk to your husband about how he sees his role and your role in this business/investment. 

I would recommend discussing with an attorney a LLC where you are each 50/50 partners and a strong operating agreement so you both have clearly defined roles and expectations.