.- access to draw funds for all 30 years of term vs only the first 10 years - uses Fannie Mae guidelines so planning for this product is more predictable since the guidelines are public and widely used vs individual bank helps guidelines which may vary drastically from bank to bankThe cons are:- variable interest rate however this also variable with helocs andbaio is on the 1M libor index while most helocs are tied to prime index which is more volatile over timeOther than the variable rate feature it does not have many disadvantages.

Be vary cautious of what you hear on the Internet. 

Welcome Deja - the cash reserves you will want on hand will vary drastically with the property age/condition.

I understand that the process vary depending on the location of the property but I would like to know if any of you has gone through that experience and wants to share.

It says nothing about the bottom line and gives a distored  picture when comparing returns across different markets since operating expenses can vary greatly by market.

Zillow uses an automated valuation model which can really vary from the actual market price.

Your mileage of course may vary.

Rents vary by areas.

Reporting will vary on how you set up the fund and list it in the operating agreement and PPM.

This varies depending on location so it's better to check the average cost in your area.