I'm thinking the liquidity of the HELOC would be great to pull the trigger on a good deal when it comes and I don't want to pay interest on taking out money I'm not actually using yet since I haven't found a property yet.  

I told them yesterday not to text me like that, its a form of harassment.right now tenant is under a 10 day compliance to comply with lease 

Having been a rental property triggers Form 4797 and related calculations.

What Jonathan said: whenever Ohio is mentioned on here it triggers the Ohio agent’s word alert and 500 of them pop up praising Ohio and offering to help.

They pulled the trigger on getting a house because they found themselves constantly paying for costly hotels when visiting and having to pay both of our rent.

If YOU were in this situation would you pull the trigger on this deal?  

That means someone can physically go to the property to oversee compliance to city ordinances.

From a bookkeeping standpoint, this makes everything a lot easier as long as each financial account is used the way it is supposed to be used (no commingling).I would just caution you to think about the functionality of that structure within your day-to-day business operations before pulling the trigger on it.Make sure you're keeping things as simple and efficient as possible.

We have a break lease fee (we operate in Kansas and Missouri) and I know we use a flat fee and not a multiple of the rent (I think because that way the deposit cannot be applied to it or for some reason with local laws, admittedly I don't remember).The main thing is though that 1) it's in your lease and 2) it's in compliance with your local and state laws.

NC is a trustee state, so a mortgage default will trigger the "power of sale" process as spelled out in the recorded Deed of Trust.