@Aria SahaI did this and my bank wasn’t happy I moved 5 of my deeds from my personal name to my LLC.

Local and regional banks also have a ton of those loans on the books so let's see what will happen.  

You could then get a HELOC/LOC on that paid of property (a product that doesn't require you to use it) and then if you did have a big emergency you had a line to use on it.Now, ALL of this is dependent on how much money you have in the bank, how many properties you have, what your income will be like in retirement, what the standard age would be for your end of life (that's a scary one to think about), and while yes, you can certainly take equity out I just think it would be good to sit down with a financial planner...or even some other investors that are local to you that are around your age demographic and see what they are doing.I'm glad you are thinking about this for sure.  

Same net to the seller, but keeps precious cash in your bank account!

If you put the property into an LLC after the fact, then the bank MAY call the loan (require you to pay off the remaining balance).

Who governs the bank and what would they do about that bank president who knowingly did this is more of what I’m looking to research.

I'd start by talking to both a bank and a builder.

Hello Fellow landlordsWondering what banks do you use.

It is normally kept in a separate bank account in the state where the rental is located.6.

Some of our local banks and credit unions have great deals - much better than national lenders.