Does anyone else have any contact info on banks / credit unions that that would be able to make that loan?

Pardon my tax ignorance but are the benefits of doing so really that significant?

I am looking for responses from people that has used credit unions in the Chicagoland area and surrounding suburbs for HELOCS. 


Please let me know also what credit union you used.

If you are sure you want to put your hard work, drive, etc. into real estate my advise would be to become an agent with the goal of not simply brokering transactions but ultimately using your license for your own benefit as a principal.  

Some potential drawbacks to keep in mind are:Additional closing and loan origination costs (two transactions/mortgages instead of one) - speak to your lender and title company about costsTwo insurance policies instead of one - probably close to double the insurance cost as compared to a duplex - get a quote from a good insurance agent and compareTwo sets of property taxes instead of oneThese certainly aren't deal killers, and the benefits noted above may outweigh the disadvantages.

The upside is that there is no lien on the property.If you have the ability to do a refinance after a seasoning period, and the house is worth more than you paid for it, consider doing that and pulling out all your capital.If you use a smaller credit union, some will bundle multiple small properties into one blanket loan. 

With one of them, who applied, it ended up with him asking me to prove I owned the property and going over the lease with a fine-toothed comb (after he missed a couple of deadlines to get things back to me, I moved on and denied him).I figured the facts that 1) prospective tenants see the property and can talk with the current tenants to ask about the property and me, and 2) that they have to submit an application and go through a credit and background check, and 3) that I was using Cozy to collect payments and 4) that I am available by phone, email and text whenever they want, would be enough to make people comfortable that they are not getting scammed, but it was apparently not enough for some people.Does anyone have any tips to help prospective tenants feel more comfortable dealing with you from afar and not feeling like they are getting scammed?

This longer life would negate some of the tax benefits that are afforded to owners of residential rental properties (due to the shorter depreciable life on those types of properties), and would most likely cause your rental income to be taxable more often then not, right?

Landlord does not report our on time payments to build our credit.