And you're continuing to add or maintain the same number of free and clear properties. 

Downside, HOA's but everything is beautifully maintained. 

But the effort and cost to maintain 40 LLC’s would outweigh the benefit of a low probability risk. 

I know many leases with national tenants had terms like "tenant will maintain a routine maintenance contract on RTU.

We are leaving CA for tax reasons and because the distance of maintaining properties was getting to be too much (there were not great property managers or contractors so we were having to travel back for everything).We have made a few offers on 4plexes in Las Vegas but have not found the right property yet. 

Using a HELOC puts more liability on you while the hard money puts onus on the lender while you leverage their money and maintain as much of yours as possible. 

We have to stay full to maintain the profitability.   

Unfortunately, while that Should make things go more smothly with you through the City, it doesn't always work that way.A majority of the time, the City is willing to just "Accept the fact" that these enclosed porches exist, and as long as they are maintained in safe conditions you can continue to utilize them.

Also, you can usually avoid exterior renovation costs with these since many have HOAs that maintain the exteriors.5.

Studio that operates as a Short-Term Rental (STR) generating an average of $2,200 per month.Our ADU tenant has been leasing from us for the past 4 years, and we have maintained the rental rate without any increases.