It give me the opportunity to make a low ball offer and maybe buy the property at the right price.I don't know about the timeline your asking about.Although I am originally from Alabama, I won't invest in tax liens there because there are much better states to invest and get properties in a relatively short period of time, at least relative to AL.

Rent (short term). 

The front cottage is going to be long term and my plan is to do short term rentals out of the garage units. 

Originally posted by @Aaron Klatt:I think most lines of credit won't have an amortization schedule, because they are meant for frequent smaller purchases, I have no clue about the rate though.Yeah I'm assuming it's a short term product better suited for flips similar to a HELOC.I thought I saw in a thread here on BP that rates were in the mid 6's or 7's so that's why I'm curious.Would be a much cheaper alternative to HML and still provide a way to do multiple deals via leverage.

The interest is almost irrelevant on such a short loan cycle.

The S-Corp benefits may not ever be achieved in what will presumably be a short term entity. 

They simply walk away without having to go through a short sale or pay out of pocket to sell the place.

There are short-term (2-5 years are the max) interest-only loans by hard-money lenders that have a balloon payment at the end of term.

There is no long-term (maximized long-term returns) without the short-term (liquidity through cash flow). 

-The water heater began leaking shortly after posting this and had to be replaced, likely nothing to do with them, but you always wonder with people like this.