I currently own 1 rental property which happened simply out of survival.

Have you read through The Ultimate Beginner's Guide?

Check out the REI Resources and the Ultimate Guide to Real Estate!

It all has to be paid for at the end of the day so they can survive (and hopefully grow!).

So I can have free and clear properties and no-one will touch my file to cash out, with great properties in 1st lien position (security!!!, less risk!!). But someone with great credit and zero assets can get a loan?.....

They fixed it and I went through a second closing on the same heloc.When your payment is interest only, you have a better chance to handle the payment on your own longer, also that helps you to survive during rehab.

They ultimately want the LOCATION.If the property has already  been rehabbed, it's super easy - free staging!

Pay careful attention to the names of the Assignee's, if you see names like SC4 Trust or Asset backed Securities in the name of the Assignee, you can almost guarantee that the property is in default and the mortgagee is in the process of transferring the bad paper for the ultimate foreclosure.  

A LLC will ultimately not protect you as well as proper insurance coverage which you need anyway.There was a post not long ago asking if anyone had actually been protected by having a LLC and I believe there were no positive responses.

I am the ultimate newbie when it comes to real estate investing.