@Shayna Queen I regularly advocate HML with an LOC to new borrowers  and get them setup with both the large LOC ($150k+) and HML BUT you must be super smart about this.

Blowing up your first or second or third deal just might.

You know what happens to even a small-time landlord real estate investor like me when he blows 80K?

I think what you suggested is a great idea  as it would be cheaper for everyone as the attorney would not have to learn about how this person or Company tries to blow smoke. if you decide to go that route please let us know

That just seems like not enough to me given the risk that a roof will blow off or some other major problem. 

I always see comments about the challenges of the LA market, but this totally blows that out of the water. 

You will need to pay the annual registration, Registered Agent in those states and then file a tax return in Illinois as a Foreign Business Entity which pretty much blows away all the privacy and no taxes due in Nevada or wherever these folks use to sell their snake oil. 

The bank isn't going to let you blow their money.

The project gets delayed, or your contractor blows the rehab.

Don’t blow the deal over it.