I'm probably in the minority here, but I don't like holding tenants hostage.

The rental agreement must start within 10 -12 days of approval, we will not hold longer without charging rent.

But anyway those 12 states generally will have a carve out for TRUE PML who is lending their own money and its usually a limit of something like 3 loans a year no more than 5 outstanding at anyone time.. other wise a license is required even for those not holding themselves out as a lender.

The advice I've been given, and chosen to follow, is to utilize HELOCs for short-term investments, with a plan to pay them off in less than a year and to avoid holding them long-term.Do you know what the value of your recent rental property purchase is?  

(These can be really tricky)Did you call the former landlord and actually get a hold of them?

This could be a way to hold on to a little more liquidity while still cash flowing.

I think my current residence is an excellent "training wheels" for being in the rental game."

Love the fact that you already know you are creating your own reality and changing the game for your family! 

Investment Info:Single-family residence buy & hold investment.

Investment Info:Condo buy & hold investment.