Every month, property 2 has been paying most of the mortgage on that Property 1 home equity loan.

Any recommendations on lawyers to talk to that can assist in advising on an LLC fund (if needed) and how? 

**eForms**: This site provides free residential subcontractor agreement templates in PDF and Word formats.

Quote from @Zach Howard: Quote from @Jonathan Greene: If you are looking at properties in the US only on Zillow, and not seeing them in person (I know you are in Hong Kong), this is just an effort in futility because you can't underwrite single-family or small multifamily deals only online.

Again even if you have great credit as you start to add more credit cards, mortgages, auto loans to your credit you can also be viewed as "High risk" due to Excessive trade lines in credit or higher DTI - debt to income ratios. 

I’ve been down that road of carrying a line of credit on a property before, and the stress can realy pile on when you’re staring at that monthly interest.

However, this is a conservative regional bank, that is on the NASDAQ, so maybe that’s the issue?

So you wouldn’t get any depreciation on your new purchase assuming you only spent the $450k.

I am all for saving as much money as possible in your bottom line.  

@Vinny Muli - it is VERY hard but not impossible to get an equity line of credit on a non owner occupied property.