This is in Minnesota. does anyone know what the benefit would be to keeping it month to month?

Fix and Flips are probably the riskiest type of investment if you don't know what you're doing.Buy and hold gives you a long-term solution that gives you more tax benefits and hopefully appreciation down the road. 

There are pros and cons to both of these tools, and quite a few benefits to using them together for the strongest asset protection plan possible.

One benefit is that she sees and hears about deals before they come on the market.

Also, one of the benefits of “renting “ is for the tenant to not be “tied “ down or committed to a 2-3 year contract even if they end up staying/ renewing anyway.

Here's reasons why-https://www.biggerpockets.com/renewsblog/2013/08/1...In short though, I don't see a benefit to an LLC for one property that would cover anything more than an umbrella insurance policy would, and umbrellas don't bring all the drama that LLCs do.

Essentially, if your loan pays off early, they make less money.Stephanie

My idea on using the HELOC instead of a home equity loan or something else is I could get into the better deals and essentially be paying cash (as far as the seller is concerned).

It's always prudent to to consider the cost benefit analysis of pursuing any legal action. 

They get Hudson & Marshall for free plus some great benefits, like a personal account representative and they don't have to pay an auction deposit.