which of course i would periodically make large principal payments on my main home's mortgage, then eventually rental mortgages.Would you think it would be safe to even put the rental expenses into HELOC. 

You refi anytime when rates drop or you have more $ on hand for closing costs (there may be a 6 month waiting period). 

The sum of the above responses do a good job of explaining the BRRRR in my opinion but left out a couple of items.It is difficult to refinance based on a new value unless you have held the RE for a seasoning period. 

Once you trust him then you'll only have to do periodic checks to ensure quality. 

Cap Ex is a little trickier as it depends on several factors including the hold period and condition of the property.   

If your goal is to put some money into it, fix it up and hold for a long time period, it could be a good buy as I think most of Longmont will continue to have good appreciation.

There are different ways that a bank can find out about a transfer to an LLC:- they may periodically pull the title to check (rare)- they will be notified by the insurance on renewal (not only will you have to change the name insured to add the LLC on the insurance, but also, insurance often pull title at time of underwriting)Will the lender bother about it?

If you have a hold period of 10 years what repairs could you foresee and where do you see the trend of the overall neighborhood going ?

With pharmacies Walgreens almost always have flat rent in the primary period.

It works the other way as well:  Non-Relator Broker = Non-Realtor agents).You also have to pay for E & O insurance and take a certain number of continuing education credits every license period, some of which can be FREE as a Realtor, but most of which costs money.Beyond the above, I suspect you can cover your expenses on just one, full commission transaction each year, depending on the above.