The government could care less what they do regarding landlords.

Take care!

I was wondering if anyone has recommendations of an attorney who is familiar with this structure and could help me set it up in the Charlotte, NC area.

You have to read carefully if those restrictions are  not barrier in your investment.  

But be careful because if you have back taxes on an owner-occupied property, they’re not as willing to sell as a non-owner-occupied property.

Take care.

Cash is great but if you have healthy income you don't have to let the lack of a big bundle of bills stop you from getting started - you just need to know that if you ran into a problem, you could access the funds to take care of that problem, and you could pay those funds back in a controlled way without skipping your mortgage payments or having to go to a soup line for awhile. 

For purposes of this section, the following terms have the meanings given:(1) "court official" means a judge, referee, court administrator, prosecutor, probation officer, or victim's advocate, whether employed by or under contract with the court, who is authorized to act on behalf of the court;(2) "qualified third party" means a person, acting in an official capacity, who has had in-person contact with the tenant and is:(i) a licensed health care professional operating within the scope of the license;(ii) a domestic abuse advocate, as that term is defined in section 595.02, subdivision 1, paragraph (l); or(iii) a sexual assault counselor, as that term is defined in section 595.02, subdivision 1, paragraph (k);(3) "qualifying document" means:(i) a valid order for protection issued under chapter 518B;(ii) a no contact order currently in effect, issued under section 629.75 or chapter 609;(iii) a writing produced and signed by a court official, acting in an official capacity, documenting that the tenant or authorized occupant is a victim of domestic abuse, as that term is defined under section 518B.01, subdivision 2, criminal sexual conduct, under sections 609.342 to 609.3451, or stalking, as that term is defined under section 609.749, subdivision 1, and naming the perpetrator, if known;(iv) a writing produced and signed by a city, county, state, or tribal law enforcement official, acting in an official capacity, documenting that the tenant or authorized occupant is a victim of domestic abuse, as that term is defined under section 518B.01, subdivision 2, criminal sexual conduct, under sections 609.342 to 609.3451, or stalking, as that term is defined under section 609.749, subdivision 1, and naming the perpetrator, if known; or(v) a statement by a qualified third party, in the following form:STATEMENT BY QUALIFIED THIRD PARTYI, ....................

One bad tenant or an unexpected roof leak can decimate your return.2) The biggest determinate of an investment's success is property manager (also referred to as operator).

Using a large LOC will be ok for flipping, but be careful if you are planning to refinance out of it.