There is also no guarantee That the property will sell within a 30 or even 60 day timeframe.My advice to you is to run with a Turnkey RE Strategy and get familiar with dealing with the banks agents closing attorneys, Property managers and insurance companies in the RE investment industry.

$8,000My question is based on these numbers, if I could guarantee a done deal at 35k, am I crazy for allowing a little time to play out with a 30k offer that may or may not be accepted or countered (this is a bank owned property)If you read this far THANK YOU!!

But there is a middle ground where cash flow can be positive and appreciation can be a nice bonus.The way I look at it is cash flow is guaranteed income (more or less) And appreciation is a nice bonus but never a guarantee.

Keep them and enjoy the $950/mo cash flow and let them appreciate in the awesome market of Portland/Vancouver.Appreciation is never guaranteed.

An LLC Will make your financing tougher (no conventional 30 year loans) and you both Will be signing personal guarantees also, anyway. 

The reasons are because it is truly passive, low risk (investment is secured by real property), guaranteed predictable returns (contractually).

It's been fought over for literally decades and while it was recently given a stamp of approval by the necessary agencies, funding is in question and lawsuits are all but guaranteed.  

I would think the bank has no guarantee you will pay down the HELOC with the money and must count it against your debt.  

Start with a 100% or 70% guaranteed return.  

What kind of financing are you securing that allows all funds for downpayment to be borrowed without the guarantee from someone else?