You need to feel out your seller and determine if this is someone you want to partner with.

That will largely help to determine the right fit in the landlord market for someone with a portfolio. 

The specifics of your situation will determine where you might need to fall on that spectrum of holding period.

Which governing body determines these requirements?

He believes he can find all that he needs to know on the internet.

You want to focus on markets that work with your plan and also where you have a personal connection with someone, even if you build that on the internet.

Paul and Special Financing Company both  promised they would take care of this by December 27th and then just today in the mail I got two letters saying that they had transferred my loan to another company...That is the most insane thing I have ever encountered in all the years of dealing with shady businesses on the internet-!!!!

Lease Terms: Determine a monthly rent payment that covers the HELOC repayment (interest and principal) while providing some positive cash flow for you.                    

Consulting a tax advisor or 1031 Exchange expert is essential to determine if the benefits outweigh the hassle.Taxes Without a 1031: Without the exchange, your parents will owe capital gains taxes.

Nothing says that the compensation cannot be determined after the fact.