Essentially  I was looking to do 3/1 , 5/1 or 7/1 ARM so i don't have to put down more money and mortgage will be reasonable .

I spoke to a mortgage officer from chase bank, he said i can get 200k cash out, and the new loan of 670k will be a 7/1 arm at 3.875%.

If anyone is in the same market area as myself and would like to teach me would be awesome but most people ask for an arm and a leg (not affordable).

Some balloon and some just become ARMs.  

Since you've already taken title it won't work.An attempt to create mid line entities right now unless handled at arms length for retail would probably result in a step transaction. 

Because of the long arm of the California Franchise Tax Board and what they consider doing business in California, my LLC will be deemed to be doing business in California, since I'm managing the LLC from California, even if if the property is located outside of California. 

To do this I will need to acquire double digits properties; however a family member and I are debating about short term (vacation rentals) vs. long term rentals.  

If you have grounds for a reduction, recent arms length purchase or neighborhood comparable sales that prove a discrepancy in value it’s an arduous, but not difficult process.

He called me and put the guy on the phone and I told the guy next time he's going to get arms broken, besides our calling the cops.

Hi Nghi--Pretty easy to get 75% on a R/T or Cashout refi with rates starting in the low 5's for a 5 yr ARM.