Yes, I'm fairly risk averse so taking on a HELOC long term is daunting.

I read their cc&r and the only thing I found that relates to rentals is a line that reads “Property shall be used for residential purposes only”But I’ve reached out to the hoa and was told “Our HOA regulations say single family home which means No vrbo or short term rentals.”I’m getting confused since I’m fairly certain that single family home doesn’t mean what they think it means.

Dispose of all foodsources, for long term storage.

- Replace the flushing mechanism about 20 bucks or replace the toilet with a water efficient one if holding long term. 

HELOCs only make sense as short term funding - especially with rates where they are now. 

Hey @Adriana McLaughlin - This is actually the FIRST TIME I have heard of the term "ALL-IN-ONE-FIRST-LIEN", but after doing a little bit of reading on it I am not sure I still completely understand.Basically, you apply for a HELOC credit payoff your existing mortgage with this variable HELOC and then in theory have some leftover as well...so the advantage is paying off your loan early and getting access to a line of credit, but the disadvantage would be a variable rate mortgage for the reminder due on your orginal first mortgage? 

And this is going to get really murky, because the owner claims that he had a long-term tenant, and that tenant was then doing the rental arbitrage deal.  

Their longer term goal is to use the money you give them to put you out of business.  

Hi,I did a private lending, term was 1 year. there was a clause that borrowed can extend loan (if lender is ready) for 2 times, each time for 3 months. but borrower has to pay 1 point for each extension(3months). so extension can be done total 6 months.Now, after 1 year, borrower keep paying interest .3 years went like that.Now Borrower wants to pay off. in such case what should be Loan extension point added.Thanks

So you never think in terms of hours worked or which day etc etc its what you do to live ..