For example on SFR primary/second home properties, typically HELOC's are structured as a 30 year amortization, with the first 10 years usually being the 'draw' period (time to utilize and pay down the credit line) interest only and 20 years amortized principle and interest payments.

Not because it has broken but to improve stuff.Either way an older home requires more maintenance than a newer build until those systems that wear out are replaced (like the heating/AC)We are 7+ hours from our lake house and we self manage it just fine and have been for the last 6 years.Regarding the LLC, will you be paying all cash for the property?

They get a Conventional FNMA for 80% of the purchase price, a HELOC or 15% and pay 5% down.  

As my CPA says though...bad news is you're paying more taxes, good news is, it is because you made more money, or I guess on the property side you achieved appreciation.Downsides-cost of entry higher than some parts of the country. 

Los Angeles is not the only place to gain appreciation - although it is really good - but you pay for it...Anyway, I have stories about people who focused on rentals before buying their primary home and they've done great.

Hello,I'm excited, this is my first post. I've seen post online that say that Section 8 will help you with the cost to remodel a home if you then place it on the Section 8 program. Does anyone have any information on ...

Any penalties I have to pay.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Like Jerryll mentioned if it's just an investor using it, and they didn't pay him for it... it sucks for sure.. but isn't as big of a deal.

I will be paying the mortgage without being able to get a rent for that.