I get where your coming from but the point of an LLC is that it keeps the asset protected from all others so in a sense the holding company is just a formality for tax purposes since an s-corp would be attached.If you do a separate llc for each property without a holding company then you would have to make a separate s corp for each property which wouldn't make sense as that defeats the purpose of the s-corp thus the reason for the holding company.

On top of that on our counties code enforcement website i see a number of formal complaints were filed to the city on this property by various neighbors.

As for the HELOC: I would consider setting up a formal agreement for a personal loan to the LLC.

As a MHP sponsor, we are actively using this strategy, so I will explain:When a property is purchased and a formal cost segregation study is performed, the entire portion of the property's value with a useful life of 20 years or less can be taken as a passive loss in the year the property is purchased.

I am also starting formal learning for RE license exam.Wanted to request some assistance in knowing good / emerging areas for my first investment property (3/4Bed) costing 100-300k with decent possible cash flow.

But just after taking my test, I learned of a friend who was making a KILLING selling sub-prime loans for an old mortgage lender called Countrywide.Well one thing led to another, I applied for the MLO job and got it, and Countrywide told me that I couldn't be a licensed agent at the same time as an MLO due to it being a conflict of interest.All that being said, I still don't know to this day if that was just a Countrywide rule or more of a formal regulation.

I have another that we are renovating down in Tamarac, FL.If either of you are looking for help either formally or informally, I'd be more than happy to connect with you and we can chat about it more.

@Griffin Sisk I learned the hard way investing with friends that to cover your bases be sure to make it official and have a formal partnership agreement with at least one or two well thought out exit strategies in the event something goes wrong or someone needs to exit the investment.

For example: An owner might want to 'co-manage' with you; so here we have a person which doesn't know how to manage which is not licensed, receives no formal scheduled training..  

What is the formal/informal process?