Rodrigues' recommendation may change this), but my next question would be, are there any cities/markets where 1 of the following are true: 1) You have family/friends that live there, 2) You travel there frequently (either for vacation, work, etc.), or 3) Somewhere else you've lived before AND know the area well?

The higher the risk, the higher the cap rate, the lower the price.My advice to anyone who is getting started: buy something safe.

Here's the question.

The discount on the full hurts!

Since the HELOC was used for a business use (renovating the rental) you can deduct the loan interest against that rental using the interest tracing rules found in §1.163-10T. 

Please use an attorney to write these documents - this is the equivalent of going to see a dentist in the van down by the river - it's great until something goes wrong and then you could be completely screwed 

However, when I requested our EIN the letter stated, "Based on the information received from you or your representative, you must file the following forms by the dates shown.

They will handle the collection and distribution of payments, amortization, escrow accounts, and any tax documentation. 

Any thoughts on the interface?

Chris, I can't seem to share a document on here to send you one of mine, but you can copy/paste the following template into a Word Document and create your own.