When your using leveraged funds (for the Ramsey addicts I will add PROPERLY using leveraged funds) your tax exposure is on hundreds per month, vs $1k+.

At the very least he should be reported to his agency or proper authority.  

In theory I can assume I both mortgages without refinancing which would be ideal.

If I got a Heloc, once the property is built, could I get a traditional mortgage and pay off the heloc and then tap into the new equity as well?

Most banks and traditional mortgages "Do not" allow foe the property to be vested or quit claimed into an LLC unless it specifically states it on the closing disclosures.In most cases even on DSCR loans the Bank/Lender still requires you to sing a personal guarantee even if they allow the loan to be vested into the LLC.  

You need to have a first mortgage, however, to do a HELOC on a property. 

Cleveland Proper won't get rid of them.

The most obvious is that you will be able to offset your mortgage with renting out a few rooms.

However, the investor owes more on the mortgage than the properties are currently worth.

-Will be open for us to extend our inspection periodThe counteroffer sounds attractive since he's offering to pay for most of the repairs, even for an engineer to properly inspect the foundation.