Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

If he doesn't move out you have to go to your county precinct office and file for eviction, at which time they will give you a court date and a constable will notify your tenant of the court date.  

Interest rates between a HEL and a refi are comparable, the equity in the property is equal to the value of the property and I only need about 50% to purchase another property.

Lastly, we'll need a closing attorney who can close quickly and as inexpensively as possible.Any recommendations are much appreciated! 

With 20 years experience managing my sfr and as a property manager for a broker and a bank, this switch into ABNB has been a learning experience.  

Put in about ten grand and a summer's worth of weekends in sweat equity and the deal is very sweet.

Case law is well established differentiation between a loan assumption, and a subject to purchase.Fraud can be charged if the purchaser has not fully disclosed intent and circumstance to the seller, as well as the other way around.  

Do you have an idea of the type of property you want to buy and a price range?

If you had a couple million in equities and a need to diversify your holdings by adding real estate, maybe.

The best deals I find are usually due to agent negligence of the area and a very poor listing presentation.