I have a heloc on my personal home for 200,000 but ive only used 16,000 of it.

We have had tenants stay for over 30 years and have current tenants who have stayed 25 years and several more than 10 years. 

Some doing IRR as an example but on a yearly basis and just combining the income and expenses as it happened on the first of each year.

It builds wealth and most importantly cuts your expenses and gives you a front row seat at being a landlord.Was the best thing my wife and I ever did.  

You will lose ALL tax benefits and owe all the capital gains that would have gone away. 

A more likely situation is you’d have to offer AT LEAST 7% to her, making your payment $1830 and your payoff in 3 years $265k.

When you do need an LLC is with MF properties or when you have partners.FNMA, FHLMC, FHA & VA all have due-on-sale clauses that may be triggered by transferring via a Quit Claim Deed (QCD) a property from your name to an LLC.

Most DSCR loans will have 3+ year prepays and usually around a 0.5-1.0 more in points than a comparable conforming loan. 

Your in the right place, there's a wealth of knowledge here and members are always excited to dive in and help analyze your deals.

If you have a larger portfolio, are you still self managing?