We have been working to be extremely conservative with our estimates but with this being our first go at this, any additional expertise is greatly appreciated! 

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Your post neither provides valuable or additional information nor did you post direct questions like the rest of us do.    

The plan is to use the heloc to purchase additional properties, and basically brrrr and pay back the balance - then repeat.What I didn't realize is how difficult it is to find a business heloc.  

These are professionals with additional training and a stricter code of ethics.

Additionally, an LLC can make it easier to separate personal and business finances, simplifying tax filings.Quick Tip: Work with a tax advisor to determine whether an LLC is the right structure for your investments.4.

At that stage I may reach back out with some additional questions. 

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

Additionally, be sure to have an accurate ledger and your signed lease agreement.

Some offer it as an additional rider for more money.