Our ground level unit is a 2bd 1bth with storage room and adjacent shared laundry in rear of ground floor.

@Wei WangYou may want to consider the land trust trick described here, but make sure to consult a local attorney.Also, there's this BP blog post discussing the LLC issue and this old discussion thread.

Either way your friend will need to do a lot of due diligence to ensure he chooses partners he can trust to be around for the long haul, but my point is that he doesn't *have* to live in the market he invests in.

Hello ladies and gentlemen My name is Sherif, I was just wondering if there are any real estate investors around the New York, New Jersey area that wouldn’t mind me networking with them on a more than just keyboard level.

We will totally rehab the interior of the lower level too and then stucco everything to make it look attractive. 

I'm the owner of top unit in 4 level building.

There is a long winding driveway that leads to the garages in the rear with stairs that go up to the living level and actual FRONT door.The issue is that there is parking next to the house and direct access to the BACK door without using stairs which is what most people have done/will do.

I teach accounting at the college level. 

Good networking with other newbies like myself as well as those of various levels of experience, those with and without non-REI day jobs, those looking to buy, looking to sell, or just looking for solid info.  

I would then take out a HELOC to leverage the equity she has built up over the years (current value of the home is about $800k) for a down payment on an investment property or two.I was recently advised that putting the house in a trust, rather than adding my name to the deed, and putting myself as a beneficiary would be smart for estate planning purposes and give me access to commercial loan options as well as residential.However, I want to know if there is a major difference between the amount I would qualify for on the HELOC if I were to apply as a Trust or as an individual.I would assume either way the bank would be looking at my income to debt ratio and make a judgment that way.I appreciate the feedback!