I have enough in savings to pay for it but I keep asking myself should i just sell it and get it off my plate and lose the low interest rate or bite the bullet and do a big rehab and continue renting it out.

Almost nothing penciled out and I wasn't interested in buying properties with negative cash or banking on the possibility of future appreciation.So I resisted buying bad deals and pretty much sat on the sidelines from 2005 to 2009 and continued to build up cash, contacts, my credit score, and my RE knowledge/education. 

As long as the borrower is current with taxes and insurance and continues to live in the home as their primary residence the lender cannot call the loan due.

I'm okay going even for a few months if there is upside, but with an old asset, things will continue to break down.We bought a 71 asset three years ago, and did a complete rehab, units, parking lot, roofs, etc.

Or the LLC continues and your capital account in the LLC is reduced by the distribution and switched to you at it's basis - either way, not taxable.A drop and swap is not any more complicated and takes about 10 minutes for a title company to do. 

Quote from @Joshua Janus: Quote from @Jeff Allen: Quote from @Peter Tverdov: This mindset continues to blow my mind from people.

The consequences of the tax sale (loss of liens) continue.3.   

I'd love to hear about other people's experiences in the area and what they think about the future for Raleigh as it continues to grow in comparison to places like Charlotte or Austin. 

Hopefully, they know what they are doing and advise you to kill the deal, but continue to negotiate.This can be done with a simple counter-offer asking for more Due Diligence time.

So there - I don't think helocs are a long term solution, but until we get to the point that rates are sufficiently low, we can use them to get equity from homes and continue to grow our portfolio.