But if they are seeking to hold a property for any length of time and want their cash investment back there are some important rules to understand with conventional loan:If you buy a property with cash (or with a HELOC) you can receive a cash out loan on Day 1.There is not a 6 month waiting period with receiving a cash out loan if you purchased a home with cash or with a HELOCBUT you will be limited to the amount of….Your purchase price + closing costs (costs when you purchased the home)OR75% of the “After Repair Value”…WHICHEVER IS THE LOWER AMOUNT (super important)These rules are important to understand so here are two examples:Example 1: If you purchased a home with $50k of cash, and put $30k of renovations into the loan, and the home was worth $100k. 75% is $75k and $50k is your purchase price.

Tell them the truth, whichever that is.

When it exceeds a set level, or at a set date in the future (whichever comes first), the mortgage holder has to start paying the fully amortizing payment of the now much larger mortgage.

On the 5th a "pay or quit" goes up, then I can file for eviction three days later (or the next Monday, whichever is later).If the tenant has paycheck timing issues, i'll add a couple of days to the due date, but I increase the late fee by $10 for each day I move it back.If someone says "I have part of it, and I'll have the rest a week later", I'll take the partial (my lease states doing so does not change my rights to evict, and my attorney has OK'ed this) and then collect the rest a week later.

And you're typically limited to $50K or 50% of your vested balance, whichever is less.If you take a loan then leave the company, you may have to pay it back very quickly.

I'm not certain of the mechanics of the auditor's office now that there has been a change in structure, but generally we make assumptions of taxes based on the purchase price or the current tax assessment, whichever is higher.

If your LLC taxation is "pass through" then your net tax due will probably not be affected whichever approach you take IMO.

Whichever way you go, insurance is the first firewall and you'll need plenty of liability coverage and an umbrella liability policy as well.On the LLC, many assert that it can easily pierced by a savvy lawyer, though I've not seen any good examples of this occurring.

I believe the bank will refi after 6 months and either use the Appraised or Purchase Value, which ever is lower.

On personal loans, they can be up to 24% or 4 points above the prime rate (whichever is less) which is currently much less than 24%.