How do I get it off the ground?!!"

Check with the Insurance company that writes the rental first2.

Additionally for tax purposes, you have to make sure a personal HELOC is not a problem for the accountant on your business LLC taxes (usually not, just a precaution).Rinse and repeat my friend. 

The plan is to Refinance after a year, applying what is pulled out, back to the mostgage to pay it off as quick as posble.

Most of the people looking for arbitrage targets look for one-off Mom/Pop outfits that work off some lease they drew up in 10 minutes on Microsoft Word or a notepad, where subletting isn't explicitly prohibited.Because, again: if I have a property, and it can make more money STR than LTR, what sense does it make to give Broke Joe the keys when I can just make the money myself?

Active Income: Profits from fix & flips are considered active income, subject to ordinary income tax rates, unless structured through a business entity.4.

How will the seller be paid off when the balloon payment is due? 

Regarding eviction court, usually the judge will just go off of what's in the lease when listening to cases.

In Austin, it is more of an appreciation market, and the high taxes make it hard to cash flow here.

Jay O.Jay O, First off good luck to you in your endeavor!