California has a filing requirement for single member LLC's which are unique to other states.3) You mentioned not doing the books for your businesses. 

Schedule C if you a sole proprietor) & you do not have any full-time w-2 employees (i.e. working 1000 hours or more per year) working for your self-employed business or otherwise.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).

@Nicholas VazquezHousehackng does add a unique complexity to your tax return. 

Comps are varied because this property stands unique in its neighborhood. 

I’m looking to do a hard money loan and do a cash out refinance with a conventional loan in 6 months or so to repay the HML.

If there is a difference, which one is the better alternative.If your LLC is set up as a single member LLC, the answer to this question may not matter.It would be good to consult with an attorney/CPA for confirmations since your situation may be unique.

Also, my wife and I loved the spanish style of the home, which is unique for Atlanta.

Use the proceeds to repay the HELOC on your primary and the rest can fund further investing. 

page=1#p4409378We have a solid group of people who attend and we always have great speakers who share unique insights with the group.

We talked about the deal I had found and he asked for some documentation to approve my ability to repay a loan if he have one.He said I was good to go and came up with terms but is now asking for a fee to process documents/paperwork/etc. and wants it wired to an individual account...