If there is coverage for all three loans.

In reality, I’ll be able to rent out one of the two units, and I will live in the other unit with a few friends, so I’ll actually be living for free & positively cash flowing, with a good cushion for potential issues/disasters, but I know that’s not how it’ll appear on paper unfortunately. 

A snapshot of my current position is below.

HELOCs aren't like 30YF first position mortgages where you can call 10 different lenders and all are within 0.25% to rate with very similar requirements.... each bank is making up whatever they want for the HELOC in terms of conditions, requirements, rates, etc. 

In Michigan, its only $50 to start, then $50 per year to maintain.

Just be frank about your situation and assure them you won’t do anything to jeopardize their position with the seller at all.

The only time personal guarantees may not be required is if: the property is underwritten commerciallythe corporation is established for at least three yearsthe corporation can provide three years full financial statements and corporate tax filings that are strongthe corporation has a high asset base, andthe corporation has positive cash flow and consistent net profitDo you set up a holding or operating company?

The buildings are newer and better maintained, which so far has reduced the calls about plumbing or whatever.

if work was done on a positive note hire them.

Will my taxable income go down to $105k, or does that extra deduction carry over until I have a positive year?