I don't know that a change in the date on a calendar alters much of anything on my end. 

While examples are numerous, they include co mingling personal funds with corporate funds, the use of the corporate form to promote fraud, the use of the corporate form as an alter ego (i.e. under capitalized, lacks business formalities, etc.), amongst others. 

Did you alter LTV's?

At the 10 year mark, the tenants becomes a life long tenant, they wont move unless a life altering event happens, so now your looking at a tenant that will just enjoy the house as is till the end of time. 

This has the potential to go down a rabbit hole where they can ask for invoices for personal loan's utilization and if you alter those documents, you WOULD be committing mortgage fraud

Basically, you use the data in the copies of the returns given by the applicants to guide you in the decision; the 4506T will get you a transcript of the un-amended returns from the IRS that you use to verify that the copies of returns received from the applicant are honest and not altered from what was submitted to the IRS.

At that point the bank will have to close it and offer you either cash out or another HELOC based on what is left from paying off the first mortgage and the previous HELOC.Heloc's can be dangerous when you are altering a property or doing renovations that may go over budget. 

@Randall Re II I agree, and I'd add:  the ability/skill to see value (or potential value) in a property that others do not see.For instance, being able to see that a house with a weird floorplan (that's turning off buyers) can be altered in a way that increases the value of the property, and increases its rent income.

Many people are turning to no-water yards & I'm sure there are plenty of free resources in your area.You may have to pony up some initial cash to start converting your area (you don't have to do it all at once, obviously) - you'll probably need to alter the hardscape & utilize some rock, ground covers, berms, etc.

Its starting to look like your alter-ego because you aren't willing to use commercial lending and operate it as a standalone business.