It's just a bad entity structuring. 3) On top of that,  you cant hire your son to work for your rental to save some tax as soon as you have MMLLC (out of scope for this post) Also, it does not accomplish anything as to transfer of the property to your son.

By the way, if you feel the need to save a few dollars, many Property Managers offer a service where they will market the property, handle showings, screen applications, and get the tenant moved in then they hand it over to you for on-going management. 

Another option I have is to wait until I save up enough so I can pay the remaining balance on my loan and have enough for a 3.5% downpayment.

I've heard of private money lenders who lend out money in their IRAs or those who have a chunk of money in savings and want to earn some interest on it by lending it out to others. 

I've heard of private money lenders who lend out money in their IRAs or those who have a chunk of money in savings and want to earn some interest on it by lending it out to others.

In all fairness with the amount we are saving for reserves and cap ex it is closer to 2000 a month but it was a killer deal.

I've been just saving the cash flow and my own cash for next downpayment.  

Basically I'm trying to examine if there are any inefficiencies/pains in the *** that can be automated away to save hassle and headache.

Assuming the interest rates were the same you save with a HELOC  because their is  no fee and you don't pay interest on the money during those times it is not used e.g. between closing on a flip and acquiring another one .Am I missing something here?

My mother took over the delinquent tax payments in order to save her childhood home for sentimental reasons.