I'm no expert, but I know several people who have had loans called due on sub to deals because of the way they structured their insuance policy.

Also see if you can pull up rental  and sold comps in the area using Zillow and Redfin and you have to give a   margin of error in their estimates and see if property appreciation is there for that area in case you are thinking of building equity.

What made you interested in investing in this type of deal?

Does anyone have a sense of whether flood zones impact the resale of lake front houses? 

Out of 2,500+ investors we have as clients, only a small handful invest as an LLC.I could see the point to an entity if a group of family members or friends were pooling their money to invest in a syndication or several syndications, but outside of that scenario I don’t see the point to it.But don’t listen to us, get competent legal and accounting advice from those licensed to give you proper advice after evaluating your legal and financial situation and risk tolerance.

He has a lot of experience and data for the Vegas area. 

And then have equity to make a second purchase - but this time without the constraints of the 1031 timelines.

Ong   Lots of great advice here. 

A Home Equity Loan is usually a chunk of money you get up front and start making P&I payments on right away for a set amortization period.

What made you interested in investing in this type of deal?