Your income will be taxed as regular passive income, and you can transfer money out of your business bank account to your personal bank account anytime, probably monthly.

I would suggest you educate a lot more before putting in any further offers.Hopefully this one gets rejected so you have time to learn the proper procedure.You definitely need to account for holding costs, closing costs and commissions when analyzing!

City inspects property every time a new account is opened.

The only solution I can think of is opening a joint bank account, placing our investment money there.

You will probably have to make ready 90% of these units when some one leaves.After doing my first couple deals I am a strong believer in staying really close to 20 units (or More) at a time give or take a little based on the deal.Remember you need a reserve account, and at the $1000/month you are probably looking at 4-5 months just to build that reserve account. 

It basically works out to you using the HELOC as your primary account and having all of your money go into paying down the account while you draw from the account when you need money in your checking account to pay bills. 

The clearer way to do things like this is charge the tenant on their account, leave the security deposit as it is and give them X number of days to pay the charges then file eviction.In regards to Section 8 acceptance. 

They will look to have you open a depository account, but it's a pleasure to deal directly with the decision makers.You'll refinance the construction loan upon completion.

This accounts for all normal expenses as well as cap ex.Any advice would be much appreciated!

Account Closed is correct, if you are planning to sell the property there is a lot of benefit in marketing as a new build.