I see the benefit of paying a membership fee which gets "skin in the game " and commits people.

What if the new owner runs the business into the ground or commits some illegal act, do you want your name associated with that?

If you do find a mentor just make sure they are actually doing deals and will be committed to your success.

Besides that, loading up on salries beyond what is usual and customary for other similar operations can cause you to lose your tax exempt status.When you walk out the door you need to be committed to the mission, that's what you must project to others, not a way to make a ton of money, if that word gets out, you're dead in the public eye as well as everyother N/P in the community.

Has anyone committed fully and done this?  

I'm going to be holding a open house in a few days and didn't want to blatantly commit something illegal by taking multiple application fee's.Thanks!

If you haven't looked into it, you really should before you commit to an investment property refinance.

I think I may have committed a foul by posting those numbers.

Okay, they may not tell you everything, loans are financial products and are sold to qualified customers much like insurance.Some HELOCs may be called or adjusted if;You miss a payment(s)You take bankruptcyYour credit has a significant changeYour home value decreasesYou have an insured loss (small fire for example)Taxes are not paidInsurance lapsesThe lender's underwriting requirements changeA HELOC is a line of credit, a promise to advance funds in the future subject to the conditions that existed at the time of the commitment was given remain the same.You can avoid many of the advancing issues by taking the full amount available up front when it's made.

But if they're going to actually make the loan, and are pooling funds, they will have had to do a bunch of work, including actually collecting the money, long before this point.Jon, many act as a broker, they don't hold the funds because they would need to paay interest to those investors, so they may farm out applications/deals, get investors to sign on, then give a loan commitment.