If I want to refi in the future to pull equity out, I understand I have to deed the property out of my LLC back to me personally.  

I'm not talking gardening here, weed pulling. this is a high income community and it's hot. 

I'd pull the trigger tomorrow on that second home if one popped up that I fell in love with. 

For non-owner occupied HELOCs, you're looking at a max of 80% LTV, more likely 65%, so if you made a 25% down payment and your appraisal came in near purchase price, there's not enough equity to pull anyhow.

So I started pulling the old caulk away and noticed it had all this stuff behind the caulk.

If you have a team you trust and property manager ready and eager to take on the building, then you can maybe pull it off.

Just never pulled the trigger since prices are all over the board and a lot of area’s seem iffy.

Foundation is great but it turns out roof is leaking even thought it was done in 2011, pulled my offer and talked to the owners who said he'd do the work and will call me again, he's also going to deal with other annoying stuff (re-do all 4 electrical panels, insulate windows, insulate the roof too).If he really does all of this and does it great my next offer will have no conditions and we will go forward.

I think it depends on your management style, but as you get more and more units you will naturally have to pull back a little.

I guess I need to pull the loan documents if only to satisfy my own curiosity.