I’ve done a lot of things from being a bouncer to a haunted-house monster to a professional writer with a bunch of novels and novella including an Amazon #2 bestselling horror novel (you just can’t beat a new Stephen King book) before my publisher went bankrupt.

Of course, this doesn't protect us if the LLC goes bankrupt and the property gets foreclosed that way.

I get it.However, the one thing I've never heard is how exactly you go about paying these cards back before the introductory period runs out and the accumulated interest bankrupts you.The only option I can figure is that you (hope to) refinance your cash out and pay back the cards(?).

In the 1930's BofA nearly went bankrupt because they failed to see the US downturn coming.

what are you going to do if or when your heloc is called .. remember helocs are not fixed term financing they are en extension of credit and can be frozen or called at the discretion of the lender.now if you have a hundred grand in cash sitting in the bank and can easily pay it off that's one thing.but these exact scenarios is what bankrupt untold thousands and thousands of investors when the market turned to the worst or they had extended tenant issues.100% leverage for 3600 a year potential gain to me if far to much risk.

I have a friend who I learned a little bit about Real estate and jumped right in, buying an empty property that needed rehabbed in a very bad neighborhood and he ended up going bankrupt due to naivety.

So they can not clearly identify if that property and the numbers to that property are a good deal or bad deal.A good deal to me could be a deal that could make you go bankrupt.

It would be a shame to see the OP take a bath or go bankrupt as a result of somebody like me not speaking up.  

They certainly are not making tropical islands any more but PR was in trouble before Maria and is probably in more trouble now (remember before Maria the talk was whether PR would default and go bankrupt and need conservatorship).I would say if you are set on an Airbnb in Rincon, the next step would be to take advantage of the slow market and book your own Airbnb to Rincon and spend some time there to assess.

I've been where you are @Justin Dziedzic thinking that this would be the thing that bankrupts me!