Annual fee $25.PenFed - max 3 other properties, 89% LTV Regions- yes HELOC but no LOC SCCU Florida 70% LTV, 6.25% interest only, not LLC Sound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv.”TD Bank TIAA Direct was EverBank Tower FCU, all states except TX, max 45 DTI, green card ok.

Start to evaluate deals based on the income approach and you'll do much better long term investing. 

Property taxes will likely be reassessed based on the transfer value, so confirm local rules to anticipate potential increases.If you hold the property for at least one year, you can use the equity as collateral for a construction loan, aligning with your long-term financing plans.

Based on your experience, would you agree with that claim?

As to your point about confusion in the future, it's our policy to leave the conversation and thread open and available for anyone to read, they can gather all of the information and make an informed decision for themselves based on ALL the information provided.

Quote from @Michael Overall:I understand the utilities will go to basis, on the interest is it able to be yearly deducted based off the conversation you referenced if using form 4952According to one of my colleagues on that thread - yes.According to court - no.

The cash flow that you need to achieve should be based off the rest of your portfolio and your financial situation as a whole.

I'm sure it was highway robbery - it certainly was based on the man-hours it took - but when you are in a desperate situation, you do what you have to do to get yourself out of it.  

👋My name is Anthony, and I’m an investor based in East Hartford, Connecticut.

I would recommend you begin researching Chicago based meetups as there are a bunch of really good ones.