You just need to really make sure you understand and are cognizant of all the features of a floating rate loan - often times the structure can be complicated and you don't want to miss something, especially related to any "caps" - just make sure you are better safe than sorry

I understand that threads like this are a byproduct of being very active in the market and welcome any feedback that can make our company better. 

@Rosanne Muschenheim I am not understanding all your information. 

So if you are planning on keeping it, my understanding is that you would only need to live there for 12 months in order to qualify for low down payment loan options if you wanted to purchase another owner occupied property.

I have been very understanding and nice with my tenants about paying rent late, but I now see that is not how this works.This is my first time dealing with this so that any advice would be much appreciated. 

Since there is no custodian involved, you must be scrupulous with your investments and have a good understanding of the rules against prohibited parties and prohibited investments.

I'm not an immigration attorney, but my understanding is that you can only passively manage your LLC under H1B visa, and the definition of 'Passive' is kind of a grey area.

If you have the open line you are essentially using it as a bridgeCouple of moving parts here but you do not owe tax until you have a realized gain so I am not sure if I quite understand the last question.  

It's also a lot of risk if you don't have relationships with builders and other trades and understand how to navigate the local permit process.

But this is my understanding of these sections and what they mean.