Hi Joe,Using a Home Equity Line of Credit (HELOC) on your primary residence can be a practical and low-cost way to fund flips, especially since the terms you mentioned include only a $200 yearly fee.

The bottom line is this: Concealment is not asset protection, proper (time consuming and expensive, I know) management, and good, prudent, practices (ditto), WHICH ARE ADHERED TO, and insurance (expensive), are needed for asset protection.

Quote from @Frank Barletta: It is more cost-effective and practical to install a large-size TV and get the Nintendo, Super Nintendo, and Sega Mini consoles.It comes with games preloaded, legal, and each to swap in case something breaks. 

If there is not enough STRs in the market you are in then you have to adjust business practices.

When I used to have RE Broker in my title ( I still have the license just dont practice) I would get folks pinging me about Vegas about once a quarter or so and I would hand those leads to my Daughter  she made some pretty awesome connections from a few of those folks that bought multi million dollar homes..

In my experience, late payers often become non payers; so, I stick with the practice above.

There is a formula that you must follow if you want to perform, having a realtor who knows the market inside and out and practices what they preach is an absolute necessity. 

Quote from @Virginia VanOeveren: To start as a private money lender, educate yourself on real estate investing and lending practices, define clear loan criteria, and conduct thorough due diligence on borrowers and properties.

Make it your business practice to post the notice to pay or quit precisely on the day after the grace period ends, every time.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.