I bought the house, I pay for the house, I maintain upkeep on the house, I'm the one who applied for the HELOC.

After sitting on the board as President I finally conceded that the high HOA costs were an accurate reflection of the cost of maintaining the common grounds, like it or not.

And if so, what is the cost associated with establishing/maintaining that account?

I am a 34 year old Air Force veteran (2W0) and am currently residing in upstate NY near FT Drum.My REI goals are: short-term -> Learn as much as possible and close on first deal by the end of the year mid-term -> $10k/mo positive cash flow within 10 years long-term -> Maintain a sustainable growth investment portfolioMy preferred strategy is SFR/MFR Buy and Hold.I look forward to learning more from each of you as time goes on and hopefully will be able to glean enough to start successfully investing in the near future.

The borrower knows that the funds are available but you maintain some control to ensure the $ go where you expected them to go.  

He has insurance coverage for 10x more than his net worth, so I fail to see how an LLC (and the cost of maintaining it/them) provides any additional value here.Series LLCs have not been tested in court yet, so no telling how they will stand up in the event of a lawsuit.

I'm debating on whether its worth dealing with the poteinal headache..The outside of the home is maintained nicely, at 24k and since there are people currently living in the house the inside cant be too much of a mess..The house is in Pa, does anyone have any first hand experience with what I could possibly be dealing with.?

Also the typical stuff like lack of a maintained yard, the growth, the mail piling up, and if there are no spots from a leaking parked car that can be a sign sometimes.

I absolutelly will require EM up front AND inspection contingency to be removed 7 days from contract acceptance, NOT upon lender approval(our contracts do have a provision for seller to maintain current condition with a follow up walk thru).

I need to maintain the excitement, and loosen up a bit though.