In the event I'm a big fat failure they can foreclose by doing an SPE (Special Purpose Entity) Transfer of the LLC in which they become the managing owner and it doesn't affect me personally.

The goal with paying it off would be to jump the mental hurdle of owning a property free and clear, start an LLC and transfer the title into that LLC, and then to have a property that we can HELOC against in order to have the flexibility to make cash offers so that we can begin making LLC purchases more easily rather than titling in our own names.I'm certain that plenty here would advise to continue rolling the money into new properties, rather than to pay one down, since owning the house free and clear would provide about half the cash flow that we could get from down payments on two new properties, however my wife (in particular) and I both like the idea of simply owning one property outright and then using the above strategy moving forward. 

To qualify for the 550 you will need the following; Purchase price has to be at least 50k total loan amount has to be at least 100k.Rehab cost can't exceed the purchase price Credit score at least 550, tax returns not required, all other docs are required.The 600 program Purchase price at least 20k rehab cost at least 10k Credit at least 600 with 3 tradelines and all required docs tax returns are not required All programs require at least 15k liquid asset to be shown in bank account prior to applying.

This will be a lateral transfer for my day job and will put me within striking distance of (what I think are) my target market(s).

I started compiling a list of private lenders by going to the county recorder's office, looking at the 1st page of the deeds of trust that were recorded, and writing down the name and address of anything that appeared to be a non-bank in the section "When recorded, mail to:" It was tedious and took me about 4 hours to compile 50 names.

Hi Cameron, I've worked with plenty of Brokers and Banks for my buy and holds.

5) Can I claim the bank loan interest in my taxes?

My experience with the big banks is you will run into low-level bureaucrat types that are annoyed with you calling.     

I need to refinance out at 75% LTV, and find a bank who would lend @ 5-5.5% interest.

Typically, I BRRRR with ARV loans through a local bank for our investment properties, so I'm not up to speed on traditional mortgage rates.