Am I legally bound to reduce his rent at all?

Missoula is surrounded by mountains and is quite landlocked but my realtor and I have an area picked out that is bound to grow due to some new amenities in the area.

I do like your price target... not sure where you find them, but hard to loose with 40k house.

Meaning if you make money in Spain and send it to yourself in the US you loose money, its meant to ensure equity isn't leaving the country it was created it.

When we gutted our house and our second SFR we pumped air in lines and made sure it didn't loose pressure obviously if you do you have a leak.

be careful though if he's a good tenant you don't want to loose him.  

On the low side however if I loose the tenant it might take a very long time to rent again.

The taxes are exactly the same and if you compared the two side by side, there would be absolutely no difference between a sole proprietor and an LLC except that lines C and D are filled in on the schedule C with the entity's name and EIN and the LLC will have an additional expense each year of "Business Licenses and Annual Filing Fees"There is nothing wrong with a disregarded entity and there's no reason to go to extra lengths to have it file its own tax return, but if you're bound and determined, here are two options.1.  

And 120k is the average amount for HELOC.Plus always remember use debt wisely, should the economy turn sour again, you'd loose everything.

I hated to loose it and could kick myself for analyzing so long.