If you don't have the cash for a 5% down payment then doing a HELOC might make you over leveraged, but everyone's situation is unique, having access to it might help you to have access to more capital if you needed it in a pinch.

I'm not new to purchasing properties, but this will only be the second property I've ever purchased and the first in this new area.

Another item is, my logic at purchasing this property was to spend less than what I am paying for my current living expenses and it is about there.

You got this! 

With interest rates on the rise, how have you adjusted your funding strategies?

AS a HML I have seen this play out with investors that drink the sub too coolaid and are simply not financially capable to handle issues when things go sideways.I have also personally bought over 100 sub to deals in my career..

There are many REI specialized accountants on this forum who provide bookkeeping and tax services, but all of us have different models of service, different approaches and different prices.

Duplicate post, please help me delete this

@Chris SeveneyI do want to minimize liability considering I intended to have multiple properties under one LLC capped at 10 just because somewhere along the line I was told this is good practice.

Hey Luis, I live in Brickell very close to this property and also manage properties in South Florida.