With the HELOC, I think that will still puts me in the black about $125.

HELOC appraisals are notoriously low, just part of the game. 

Under the Corporate Transparency Act, LLC's are required to file a Beneficial Ownership Information (BOI) Report. 

As a custom builder for decades, I dealt with this way more than once, especially with new subs that had not worked for me before.Back in the old days we used to just go with a verbal ok, but in the last 20 years or so, it is imperative to have a written CO (even an email sent from the jobsite) from the Sub and then I would add 20-25% and submit a CO of my own to the customer.

To qualify, taxpayers must meet specific criteria demonstrating that they are real estate professionals who materially participate in their rental activities.How to Navigate the Rules:Step 1: Identify your real property trades or businessesHere is a list of activities that are considered to be a real property trade or business:RedevelopmentLeasingConversionConstructionReal property developmentReconstructionOperationRentalBrokerageManagementAcquisitionIf you participate in multiple of these activities, you may be able to combine them making it easier to meet the material participation hour requirements.Step 2: Demonstrate material participation in real property trades or businessesThere are seven tests to determine if you demonstrate material participation.

I've discussed with the county phasing the buildout in 2 steps, building 2 units at a time. 

Quote from @Nicholas Dillon: Basic math on a napkin.When you cash out the equity, you borrow it from the bank.

The IRA will buy the property and own it, so the rents and profits must go into the IRA.

Many you have to have a full Brokers license not just a Sales license.

I can’t figure out how to search through the app for any topic.