You will receive most if not all your benefit in year 1.Year 1 is where you will spend money furnishing the house and potentially taking bonus depreciation via cost segregation study.Year 2 and onwards, assuming you got a performing asset is where things will reverse tax wise and you will likely be reporting positive taxable income.

Set up the LLC business bank accounts.Moving to an LLC increases costs, work, and complexity.

Oftentimes, there's overlap between the two recommendations, but you also get a mix of different options.Also, to shed a little light on the insurance industry, premiums have increased significantly year over year across the entire country.

@Isadore Nelsonhappy to help - some of the expenses you're missing would be property management, capex, repairs, and vacancy / turnover.so for example - $1000 in rent - you might have $100-150 in property management, $50-100 in repairs, $50-150 in vacancy and placement costs, and capex would be whatever is coming due soon. a furnace, a dishwasher, whatever.it also generally costs half a month to a full month's rent to place a tenant. 

In general it's a passive way to own real estate as the tenant takes care of the headaches and cost of repairs in most situations. 

Cons are the cost involved in (both time and money) and loosing out on having a professional to guide you through the process. 

Home prices are rising steadily, with a 7% increase from last year.

Imagine you sold for $10.5M, paid $500k in commissions and closing costs.

For example, doing the kitchen,paint and floors in the 2 months before moving in and then moving to bathroom renovations or adding a master suite addition while living in the property.Depending on you jurisdiction and capital you can use the value add house hack to even add an adu to increase the density. 

@Aaron Rushtoni know your questions are very focused on the HELOC but... there are lots of aspects to a BRRRR, and financing is only one of them.and if you use borrowed funds for 100% of everything then yes, that's potentially less cash out of pocket, but it also increases the overall cost of your project, putting more pressure on the appraisal and refinance.