Would a Lender use the $ that I have in my HELOC account ........... would they let this count towards being $ that I have in a " Savings Account " , as they want to see that you have 6 months of Rent saved up " Per " rental / your own personal Residence that you have Thank you for the input and help 

More Accounting/Tax KnowledgeAnother thing I neglected to spend very much time on when I started investing...

Account ClosedAny person engaged in property management activities in Illinois needs to be licensed.This would include showing a unit for sale or lease.The only way to get around that would be hire a leasing agent, which can only be used for leasing activities and not sales.

As for the utilities in tenant names (gas and electric), I called the companies and had them set me up on a sort of "landlord plan" where it notifies me if the account is about to get shut off, then auto-reverts to me once the account is shut off. 

If you need a realtor, my realtor Account Closed is excellent.

Your lawyer should cost $25-50k, accountant 20k, insurance 10k, rent, marketing material, sales staff, etc.While the 2/20 model has largely disappeared, you need to make enough on your deals to make the upfront capital outlay worth it.

When I run my numbers on the actual income and expenses on an SFH, I make sure I account for the increased taxes that are going to occur after purchase, you can call the tax assessor for that property to check or go to the county's website.

Accountability.

Account Closed - one way is to contact a local realtor who can use their tools to find out more.

I prefer my clients get straightforward 20% down conventional if house can pass appraisal (I'm amazed at what condition passes appraisal with a 20% down conventional loan versus an FHA or VA appraisal), so they don't have the accountability to the lender after purchase, can do most of the work themselves or choose their own contractors as needed, especially as many items can  be financed later.