Yep, not to mention you can have two identical houses in every way except location.

You are far too substantial from what I know of you on BP to risk having some agent fubar you and you get in some massive suit.. remember E and O is just insurance and they don't cover a bad agent who has commited fraud ..

I would set up the LLC at the beginning the bank only care if you guarantee both you and your father can add your signatures it's much cleaner this way if you buy it as an individual technically you can't transfer it to the LLC the bank would see that as fraud

Unless the law has been changed within the past two years, AFDC recipients were limited to only having financial assets of less than $2K  -- so if she really has the ability to pay 6 months "up front" she is committing welfare fraud.  5 years ago in Washington NO ONE was being charged with simple possession of marijuana. 

This is identical to a strategy here when houses were upside down with mtg.s and the foreclosures took forever.

I dug deeper and read this: "Note that the identical mark could be registered to different parties if the goods and/or services are in no way related, e.g., for computers and soft drinks."

From a borrower point of view the underwriting criteria are identical between the two. 

This is the exact sales price for an identical home on a less attractive street one block over from mine.  

Using your example, if the HELOC had identical interest rate and identical extra principal payments and you timed the HELOC payments just right, you could save a maximum of $8 per year worth of interest.

Inadequate Initial funding of the entity.or fails to maintain a separate identity from its owners ( using the business bank account for business purchases, maintaining separate books)Conversion of entities Assets for Personal Benefit:Another factor that poses a risk of piercing the corporate veil is the draining of entities assets (such as payments of large salaries to shareholder-employees) that leaves the entity with inadequate resources to pay its debts.Do not commingle personal and entities assets.Maintain a separate entities bank account.Execute an operating agreement.Follow the provisions of an operating agreement.Have LLC member meetings according to the operating agreement or board meeting for S-corpTitle property in the name of the entity.Maintain insurance on property in the entities name.Sign all entities documents in the entities name, not the members' names.These steps will also provide a better defense against other creditors attempting to pierce the LLC veil.You might want to spend few hundred dollars if you are stressed about this and get a lawyer to set you up with correct entities.