I have used HELOCs for probably most of the purchases of the properties I own. 

Here are the pros as i see it: easy (no purchase necessary, you know the property), likely prop 13 property tax discount, possibly below current rate loan.  

To defer all tax you must purchase in total at least as much as your net sale.

If you are coming in with 235k, you probably would not need much more, if any, to make the purchase.

Well, my original SFH purchased in 2010 still has its original S8 resident.

I have a followup question - I will realize a lot of capital gain from this home in Idaho, so I think unless I purchase a new primary residence I will have to pay that capital gains tax. 

Purchase price: $240,000 Cash invested: $60,000 purchased this distressed duplex using owner financing for $240K and a $60K hard money loan for renovations.

Hey everyone,I'm in the process of purchasing a multi-family apartment building and just discovered none of the current tenants have any kind of move-in inspection. 

Typically starting with a smaller rehab budget of $50K or less (maybe a max of $75K) and avoiding a 1 to 1(or higher) ratio of purchase to rehab costs is recommend when you are first starting out. 

Does the LLC legally own the property that was purchased?