As a newer investor the only concern with owning in personal name is when you have an "institutional" mortgage on the property.

Does anyone know of a bank or institution in the Indy area that would give a HELOC on a rental property? 

In terms of bankers what would the difference be if I went with MSI Financial vs some other small banking institution (I don't know that many others.

In terms of bankers what would the difference be if I went with MSI Financial vs some other small banking institution (I only know the one that I have used) Wouldn't rates, point cost be relatively the same?

I have seen a lot of BP discussion on MHCs - as a real estate investment banker, I get to analyze many different property types and thought I would share some of the key investment metrics that have led some of the world's smartest and largest institutional investors (listed below after the metrics) to invest in MHCs.

There is always that outlier...that one rogue bank, that one rogue person, but for most, if not all financial institutions engaged in banking, they don't work directly with end buyers on REO property unless that end buyer is a fully vetted, institutional buyer, and usually only with bulk sales.

Similarly, financial institutions, realtors, and your landlord do not need to be licensed.

An institution running on razor thin margins = no wiggle room to chip away at.

It's done all the time in the institutional world.In your case, you have in-place debt that you are not looking to pay off, so the biggest concern here is lender consent for the recap.  

My conversations with a BofA broker/agent mentioned that I can NOT use any funds as a down payment if they cannot be verified to have had a 60-day history within a financial institution.