I've always been advised to set up the property owner to be an LLC and to have a separate bank account as well - which all makes sense.My question though - what if I create an LLC with a corresponding bank account, but I own the property myself, and have the tenants rent from the LLC?  

For this discussion purpose, HELOC's and Mortgages (or Deeds of Trust) are not separate things.  

Always form and use separate LLC's to buy and sell real property...Main reason to avoid personal liability and now with DF issues seller financing is no problem if there selling to an LLC investor....PS don't use California LLC to expensive

My partner and I have made several (at least 10) offers on separate properties in which we believe would be ideal for our buyers.

This is super frustrating because it happened twice on two separate deals.

They are two completely separate companies and neither really knows what the other is doing.  

I need about 150k to help my sister out of a financial crisis, in addition to that I have been advised by many people to pull equity out of the building and leverage it to purchase another building and or use the additional money to pay the cost of separating the utilities here.

I need about 150k to help my sister out of a financial crisis, in addition to that I have been advised by many people to pull equity out of the building and leverage it to purchase another building and or use the additional money to pay the cost of separating the utilities here.

"random people living there, that werent authorized"Forget all the other stuff you just said.I don't know about in your state but mine in GA you have to file a separate action that says "and all others" when doing the eviction.This covers all unknown people over 18 years old not on the lease.

You can deduct expenses for a separate free-standing structure, such as a studio, garage, or barn, if you use it exclusively and regularly for your business.