One big one is that you don't accrue any interest until you actually use the HELOC funds.Using a HELOC to purchase investment properties is a popular and effective strategy.

Out of general curiosity, what form of financing have you used in the past for single-fam STRs?

The cons are it’s not generating any cash flow and it is accruing taxes and utilities (heated well house).

Only 74 acquired properties in 2013Q4, down from 96 in 2013Q3, 302 in 2013Q2 and 160 in 2013Q1.Operationally, they have $30M in Accrued property taxes that will most likely hit their expense column hard in this quarter, 2013Q4.

However my curiosity has me exploring the legalities of being the insurance company while also being the property manger/owner/real estate agent. 

it was as new as you're going to get for a 100 yr old building and overall, we've had minimal maintenance issues and are accruing more for just cap ex then you're projecting for both maintenance and cap ex on a partially rehabbed building. for perspective, we accrue $6100 annually for cap ex on top of all typical operating and maintenance expenses.  

Just out of curiosity, are there any books/resources you would point someone to, to familiarize themselves with these terms some more?

Interest accrued = $3.90 for a total of 653.90.

Out of curiosity, why are you residing the house?

Out of curiosity, how have you gone about finding investors with these needs?