@Khandbari Rai pros- you can make a  smaller  payment ( the Int ony  payment ) for  up to 10 yrs    ...cons - the rate for this program is slightly higher than regular amortizing loan ...if you make the min payment - your loan balance  will not move  down at all  over  10 yrs  -  the lender  uses the  full amortizing  payment for qualifying  ...at the end of 10 yrs - the lender will change the payment to a  fully amortizing payment for the  remaining balance over the  remainder of the loan term ( likely to be 20 yrs)

In particular- how was the process when the tenant moved out and there were charges reported against the Security Deposit? 

Hello everyone, I recently moved to Lawrence, KS for work and had a few weeks to scope out the town.

That would be a sole proprietorship and I think there is a way to do s sole proprietorship with more than one person.You can then open a checking account as a DBA of the company name you came up with and track expenses in and out of it.My point is not to say an LLC is a bad move. 

I've been running the numbers on my first primary residence that I will be moving out of in June. 

You're also doing the right thing having a separate bank account for the rental.

The HELOC has always been the 1st position & only loan.I had a change of plans where I needed to move away from the area.

Here are the details:Lower Floor: Already functioning as a separate unit with its own meter, entrance, and bathroom, currently rented to long term tenant who would like to stay, post-sale.Main Floor: Has its own entrance with immediate access to an upstairs.

In addition, there is a separate issue if you lost your principal investment.

I am looking to move forward and I’ll keep you posted about how it goes.