.* Collateral for Loans: I haven't explored this option, but my concern is keeping the asset protected if a project goes terribly wrong.* HELOC: this is how I believe I could use the equity and protect the asset.Is the following a correct assumption? 

Ask me how I know all this.....Yeah the water thieves are my real concern.

what concerns me more is what you meant by "our own lawyer". 

The fact that you mention "achieve financial freedom together" concerns me as well.

The humming sound you mentioned could be a concern for potential tenants.

What concerns me is any lien that would prevent me from refinancing the property.Thanks,Matt

@Jay Hurst, to address your concern as to why I keep dismissing seasoning wasn't an issue, because that is TO BE TRUE..lol!! 

If the unit is located in an area full of single professionals who have good jobs and no kids and would be concerned about evictions on their credit you're probably better off to limit your renter pool to the top candidates. 

That again leads me to concern myself more with the management than the state-specific laws.

We'd like to address some of the concerns you've raised to provide clarity on our processes and policies.