That way you can pay back the line of credit and reuse it. 18 months seems like awhile but anything can happen in that span of timeI do have some cashes around 60k just for protection.

That and the equal protection clause that follows it.

We have a city ordinance that makes income source a protected class, aka you can't say No Section 8, but it also means you can't say ONLY Section 8.

As far as why I was considering an LLC - it seems like there's two camps, those who think it's a necessity for legal protection, especially as you grow in unit count, and those who think it's mainly a waste of time and money.

@Kyle Weinapple Search this forum for "LLC insurance asset protection"You will find dozens of prior threads where this topic has been debated to death. 

Tenant protection issues - We’re in CA and introduction of limits on rent increases so want to be sure that we have the lease structured so the tenant reverts to a market rate rent at the end of the 3 year period or moves out if unwilling to pay that rate.I’m struggling with the 3 year lease being long, I don’t think I could enter an indefinite (til death) lease.Another thought what if one spouse dies and the survivor remarries a younger person?

With baseball, you start making money once you reach the big leagues, in the minor leagues, every player's salary ranges from 34k to 39k.

The entity may need to pay corp taxes but you may be protected until dividends are withdrawn. 

Also file a complaint with the CFPB Submit a complaint | Consumer Financial Protection Bureau (consumerfinance.gov)Regarding do you have any legal action - you can prove you do not owe it but you will not get any compensation - courts have ruled long ago the only recourse you have is actual money you lost - there is no "pain and suffering" if a statement is incorrect and you have to fight with them on it.

Ownership changes, but NOT mortgage liability.Investors do NOT put properties in LLCs to protect themselves from lenders, it's everything else!