Used appliances will draw candidates like ants to a picnic. 

So if I set aside 10k in the checking account and leave the cost of the mortgage and property management from the rent each month in the checking account so the account doesn't draw down, can I use the rest of the cashflow from the rent to invest in other properties?

Additionally, I'm always open to advice or suggestions of any type - areas to look into, what to avoid, how to allocate the equity I'm drawing from my home.. anything.I greatly appreciate any information and/or guidance you can provide, even if it's just pointing me in the right direction.Thanks!

Have used HELOC since 2001 and grew those amounts over time with B of A and eventually went to Keybank at 90% LTV, 15 year draw period, prime rate -.25%.

I would especially draw attention to the entrepreneur side of things, such as building a llc/brand/company, negotiating contracts, networking at local meetups, contract scope of work development, etc if applicable.

We have a ton of equity in the property, our accountant checked over all the financials and finalized them. 5 year proforma and OpExp, construction budget, source and use of funds, Draw schedule, and construction schedule all included.We had a broker run several market reports from CoStar to verify numbers, and decided to run the financials at 30% lower rates than this to be ultra conservative.

The draw backs of an llc are looking pretty bad like:- lawers can pierce through protection- insurance company lawers will only represent individual not llc- forced to use commercial loan, which has higher rates- confusion on how many LLCs to actually createI like the idea of not getting an LLC and getting an umbrella policy of maybe 2 million.

The draw back to these loans is that they are more paperwork heavy than the other "portfolio" types of loans....but if you have ever received a loan on your primary home, it's likely that you will go through the same type of paperwork here with conventional lending.

Then you need to talk to a builder or an architect and ask how much to draw up plans.Ask a contractor how much to demolish and remove the existing structures.And ask the builder or architect how much per sq ft to build it.

If you're rebuilding the whole house, an architect or at least a GC who can draw/draft would probably be helpful.