The real loser in the deal was the individual who gave his home way.

Quick cash on a flip is going to 1. give you more cash to play with vs HELOC interest rates 2. give you an opportunity to 1031 exchange into your next investment. 

Location plays a big factor into this question. 

So whether you sell to their trust or to them individually it still has to pass from you in order to do the 1031.But even more you don't want to be in ownership when they pass so you can get the step up in basis and inherit the property tax free.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

I personally would always play the role of GC myself.

However, from the stories I've heard it so far, sounds like it can lead me to the life I want for my future if I play my cards right.

I had a good friend when I lived in Napa and played golf with him frequently he was a Brain Surgeon and had the yipes something fierce could not make a 2 foot put to save his life..

A lot of new constructions are more of equity plays than cash flow plays.

From there, you could do a cost segregation study on that property which will lower taxes for that year and potentially create additional carryover losses.Always options to keep reinvesting assuming the equity is there to keep playing the real estate market