Please call if youwish to make arrangements to execute this document at one of our offices.CALIFORNIA CIVIL CODE 2943 PROVIDES FOR A SUBSTANTIAL FINE IF THE BENEFICIARY FAILSTO PREPARE AND DELIVER THE PAYOFF STATEMENT AND DELIVER THE NECESSARY DOCUMENTSWITHIN 21 DAYS AFTER RECEIPT OF THE WRITTEN REQUEST.

Hire third party inspectors just google for them  every big market has them  they are the same guys the banks hire the HML hire etc.. when done then hire a home inspector for   a full report to make sure your contractor did not cut corners. and everything is to code..

The code, regulations and rulings do not have any specific holding period. 

Thank you all for your responsesSo just so I got it:it probably wouldn't benefit me to use a HELOC for a rental property as the cash flow wouldn't be substantial enough and I'd have to continually pull from the HELOCEven if I do receive a HELOC for 80k, if I pulled 50k from it, I'd only be responsible for INTEREST ONLY of the 50k I pulledtheir will be closing costsDoes that about sum it up?

I didn't personally use them, but Seller did to fix something quick and to code in a house of mine in Independence.

Your success here depends on the quality of your list but good quality generally speaking could be 1-2% (so $25 - $50 per lead)FB prospecting is very untargeted as the person has shown no intent (you're probably just going to use targeting such as the zip code and potentially one or two other factors that you can target with using fb relating to home ownership and income or debt levels).

Tax benefits is only icing on the cake, not the cake itself.

The biggest benefit to this method is you get to keep your incredibly low primary residence interest rate of probably 4.25%. 

We were saving better than most people in the rat race but nothing special.Now I had to convince her of the benefits of RE investing and time flies. 

Imagine coming off a 12-14 hr night shift in the ICU and your tenant emails/texts complaining about a broken toilet paper holder...or how they locked themselves out of the house.I think the two greatest skillsets I could have benefitted from but never got around to are sales, and software/coding.