There are some HOA's out there that will only allow a certain percentage of units to be rented out and may have some other restrictions in the CC&R's.As for your question, the "best" way of doing something in real estate is typically subjective, but having a HELOC payment, in addition to the mortgage, taxes, insurance, and HOA dues, just increases the chances of having a less profitable property or one that may not cash flow at all.

However, there is no downside to putting the verbiage into your filing because you aren't obligated to actually create additional series.

I'd maybe expand "areas with strong demand" to include property types in addition to geographic locations.

Hi Eva, any additional info on this?

No, with truly self-directed Solo 401k plan you can contribute first $18,500 (plus $6,000 catch up if you are over 50 years of age) up to 100% of your self-employment compensation, then on top of that you can do additional 20% of your net SE income (25% if you are incorporated) for combined maximum of $55,000 ($61,000 for those over 50).

We were taking advantage of their >500 square foot house additional allowance by adding a master suite to the main unit.

In addition to the great advice above, you also must look at your competition.

In addition to everything else I need (like lease agreements, info on evictions, etc.), my main concern right now is: does this mean it's defaulted to a Month-to-Month lease?  

These are professionals with additional training and a stricter code of ethics.

Additionally hard money allows for higher leverage than other lending sources.