The house has some great pros:• Newer 2000's home with renovations in the last 4 years• Renovations include: paint, lvp, toilets, vanity, ceiling lights/fans, roof and HVAC• Tenants look like they are up keeping the house decently.

Too many in your shoes over complicate real estate and spend unnecessary time and expense on tax planning & asset protection and in doing so, take away from the real estate.

I am also not a fan of 100% leverage with HELOC's etc, but your actual cost would be a lot lower with a HELOC.

If you put yourself in the lenders shoes and think about the risk of the deal and worst case if the borrower defaults what is in it for the lender?

Quote from @Max Yuan: I am a software guy that got into wholesaling, so it is not like I've been in the industry for decades, but definitely in your shoes last year.1.

I am not really a fan of the program because we have a very nice situation in our current home.Putting 20% down for a conventional loan is a steep task financially so I do not think that is an option plus I have been told by many of my friends with multiple MF homes to never use your own money to get into one.Then there is always using the equity we have built up in this current MF home we live in to purchase the next - I am not sure how that works but have done some research on home equity loans and believe that would be another option.Any advice would be greatly appreciated!

@Austin SmithI’m a fan of the program so far.

To put it nicely, I would proceed with extreme extreme caution, if I were in your shoes. 

Sure, there are limited exceptions but the investors in your shoes are not equipped to identify those limited exceptions.

I have also seen some UPREITS before and also opportunity zones.Not a fan of the TIC model.