Basically, what you're looking for is a purchase and sale contract that includes financing (whether it's cash or seller carry back), right?

In short, you get some benefit/flexibility with the hloc, but you carry the risk because of the variable interest rate and you pay for the benefit since the rate is probably higher than a conforming fixed rate loan.Also, with covid, I think they stopped 1st position hloc's. 

Not only will these areas carry different expectations but the care for them by the tenants (or lack thereof) will vary as well.

It’s just another item to have your tenants call if it breaks.

-If I CAN depreciate it, do I put it in as an "intangible" item like a refinance, and then depreciate it over 1 year since it was a short-term bridge loan?

Hi Matt, I carry a loan that allows for 75% LTV on investment property purchases, and 70% LTV on ReFis.

@Timothy SolomonAs mentioned, you really should consult with a qualified professional.As mentioned, Real Estate Professional Status is for bringing your passive LOSSES "onto your 1040" so you can take the losses instead of carrying them forward.I don't think you understand how taxes are based upon. 

Some I sell regular, some I carry, some I exchange. 

But if you are cash flow negative, and relying on appreciation to carry you through to make money, you are rolling the dice.

Unusual items.