This is where most people start getting nervous. And, honestly, it's for good reason. Having good residents can make owning a rental house a breeze, but bad ones can make it a nightmare. Fortunately, there are practic...

Thank you @Travis Timmons and @Andrew Steffens for your advice! 

Balloon Payment:• At the end of 24 months, the buyer will make a balloon payment for 50% of the remaining balance of the loan.• This balloon payment will be paid through a cash-out refinance of an investment property valued at $198,000.7.

@Sebastian Nadal for background checks, I use stessa/rent prep that’s available to us through biggerpockets tools.

Start looking for a new PM.

I have done a lot of these for my own portfolio, but am wondering if the tax implications are different if we do a cash out refinance for this partnership LLC and then have to "distribute" the funds to the members. 

Thanks for any additional input you have time to put forth. 

Can anyone recommend a HELOC lender for a SFH investment property in Los Angeles, CA?

If they work independently, set their schedule, and use their resources, they might qualify as a 1099 contractor, but misclassification risks IRS penalties.Wages for W-2 employees and payments to 1099 contractors are both deductible business expenses, but compliance is key.This post does not create a CPA-Client relationship.

I got approved for a HELOAN on my primary property but not sure if I should take the loan to just use as “leverage/reserves” to show the HML and get funded.