Business accounts with personal guarantees don't show up on your credit report.What that all translates to is even if it's a 0% short term loan, it can have an affect on the price of everything from your car insurance to your personal outstanding credit (if you have any).Another thing to consider is credit card companies can (and will) drop your available credit instantly when things go south - I had this happen on a HELOC of all things back in the 2007/2008 time frame.If this is a strategy you want to use, I would also recommend working through a monitoring agency such as creditsesame.com (they have a free portion that I use) to manage the risk.  

if so, then that's another thumbs down to my strategyBut, this quote makes me think something was lost in translation between my posts and your CPA's opinion."

I would recommend you start leaning the syndication business as it will enable you to purchase large multifamily (or other asset class) deals that can often take less work (larger deals can support full property management teams) and can translate to a lot more equity for the deal sponsor (you).  

To translate on a deal that appraises at 200,000.They will loan you up to 60% (140,000).

Working through each block will translate to note and security as well as underwriting matters.Going through a loan application and verified documents can teach newbies a lot I'd think about the basic considerations directly related to lending or note buying.For example, name of borrower....sound pretty straight forward, but it also asks for any alias, maiden name.

The biggest risk is the reserves are funding level, since a low funded reserve is a liability which will eventually translate into special assessments or increased dues.

Mad Fientist is a brilliant man who takes these tedious government documents and translates them into more readable and understandable English.

New agents often believe if they can get 4,000 likes on a post on Facebook or 12,000 impressions it somehow is going to translate into a sale.

All that is wonderful but how well you are able translate that knowledge into the world of REI (without a coach) is another story.

You mentioned that you might to see an attorney later, translation might be you don't want to pay for now for legal advice I suspect, you should have seen your attorney before you started!!!