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You should not even receive a letter from the bank.This article can explain the general process of taking a property into your own name and transferring it into the Land Trust before assigning it to the LLC.

@Johnnie Bembry I'm 100% in favor of that as long as you have a bit more equity built in.Your return on home equity is always ZEROCheckout this article: https://www.getricheducation.com/why-home-equity-is-an-awful-investment/

If you are starting from scratch, its important that the policy be designed properly so as to minimize the death benefit (and fees and commissions) and maximize the cash value.I write about the policy design aspects in this discussion...https://www.biggerpockets.com/forums/519/topics/245380-paradigm-life-infinite-banking-whole-life-insurance?

I will link a couple articles that go over a birds-eye view of the different options.

I have been told about this interest only loan option and after reading several articles I am just not sure I really understand the pros and cons and what my risks are.

Looking for knowledgeable person in Florida regarding topic.

However, I read an article about where properties in that area have been foreclosed for not paying only $50 or less in taxes.

I’m not sure what owning properties would do with this topic though, so maybe educate me on that?

BP articles?