Understanding the market helps to create common ground for us to meet.

Is the lawyer just being extra, extra careful...or are there typical scenarios where having it registered in NV will help for a property located in CA? 

I've seen several other lenders reply in this chain, including myself, who could all provide you with rough term scenarios, but first I'd talk with your current broker and lender to see where the real issues stemmed from.

In both scenario's, they tend to be very successful :)

The issue that I'm facing now is whether I want to pull it out against one of my rentals or on my primary.I have found a bank that will allow me to borrow as a second lien on rentals but their rates are higher than what I could get when just doing it against my primary.What I'm most worried about is what happens in a worst case scenario, should something drastic happen in the market.From what I understand, using the money against a rental doesn't necessarily provide much more of a safety blanket in case things hit the fan because if, somehow, the HELOC lender can't recover their money, you'll get sued anyways.

@John McKee, I have no direct experience with this scenario, but here are some thoughts:First, drive thru's are limited to banks (and even these seem to be disappearing) and restaurants.  

You have to decide.Software is a common question on BiggerPockets.

ALWAYS consider common sense repairs before making a choice to demo and replace anything.

So don’t think this is some common way to make five figures with little to no money.

@Grant Bartel Replacing a bathroom vanity is a common upgrade or replacement project.