Yes I have known it to work because the owner is not a push over, enforces policy and can make it run good......however, do you have the right personality to do this, AND if you move out can you continue to have the house run smoothly with no one in charge.  

There is shared laundry, not charged to tenants.

When I pointed that out, they suggested I instead setup my credit card as a vendor, and enter each charge as a bill, which would then fix the assets and liabilities issue.  

Generally they are not rolled into the loan, and it's more the level of fees (say the percentage) they charge rather than any "junk" fees or costs.

I believe Jimmy is not saying anything that would get his hand slapped but I'm not in charge.

One CPA is telling us that we need to file a partnership return for all LLCs and the other CPA is telling us that we can place all properties on our Schedule E and use Schedule C for our property management activities We like the Schedule E and C approach because it's cheaper.

I got this notice in the mail where the HOA is charging $5457 in dues for the year...a 500% difference from your pro forma. 

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

one thing is your lending your money way under what private money should charge. unless your just doing your friends a favor..

NEVER borrow from a 401K, you are taking pre-taxed dollars and paying it back with after tax dollars, you do not get to return the loan with pre taxed dollars, in addition, some 401K plans do charge interest and maybe even fees, and lastly if you get laid off for some reason, it is a distribution with all the "fun consequences: tax at the last dollar rate, and if you are under 59.5 there is also the additional 10% penalty.Personally I like the HELOC, however you can also sell stocks and do tax harvesting there to offset gains if that is an option