The only arm loans you would catch me in are ones I plan to pay off before they adjust.

It will take a couple years but when the IRS catches up, you may get a letter asking for a few details. 

Apologies if I neglected to introduce myself to you, hope to catch you on the next one.

Mike:One possible catch with your strategy is the reluctance of many lenders to allow HELoCs on {residential} rental properties.  

I think if you try and pull permits that is where the city will catch you.  

Late to the party... just catching the last part of this thread. 

Property Values are lower up there and the homes I really catching the attention of those who work in Silicon Valley.

If that is the case, then one of the following will happen:You receive the same preferred return based on your original investment and the GP catches up at saleYou receive the same preferred return based on your new capital account (original investment - refinance)

Janesville and Beloit are two other markets that have been catching my eye lately.

Since then the entity has been dormant and I was wondering if I could catch up on the taxes/fees (if any) open a new bank account and utilize the time span to jump into getting business credit?