In the end, you would be taking free money (cash), spending it on returns that you won't recover for almost 15 years (if all goes perfectly well), and getting charged interest on your own money when/if you decided to need that loan from him.Too many unknowns, too long recovery period for your cost, too much risk. 

Cash out refinance, unless I have a good plan to pay back the HELOC in a short period of time. 

You have to read about others' stories and how they survived during periods of struggle or epic failure. 

I realize I should have done all this during my due diligence period but I'm learning as I go...

What we do with vacancies is open the listing for a set period of time and tell all interested parties when we're making a decision.

I believe you can create an LLC here in Illinois.Also, you probably don't need an LLC period unless you have a large number of assets to protect. 

Hey all! I live in NJ and I wanted to know when I can legally live in another property. I recently did an FHA refinance and am required to live in my current 2-family for at least 6 months. We closed in early November...

No waiting period required but the property should be in livable condition. 

Thus, giving him an advantage over the person who starts infinite banking to get into his first property in a shorter period of time.

Even a blind person is only allowed one guide dog at a time, except for short periods where a new dog is in training to replace the old dog.