If I transfer the property right away to an LLC it could take a year for the LLC to qualify for the mortgage as I understand it.Does anyone out there have any ideas on the most efficient way to get the ball rolling?

It must be owner occupied, but we do take into account the rental income so you can qualify for a decent loan amount.

Anyways, most of the time, banks will NOT allow money from an Unsecured Line of Credit to qualify as the Money Down needed for closing a deal. 

I first jumped into the market by purchasing my primary residence in 2012 (which I recently sold for a profit in May 2016).  

Doesn't the occupied unit qualify as "the only rental unit owned by the landlord in the building"?   

My wife and I have bought and sold several houses over the years, but those were our primary residences.

What this means is that no traditional mortgage company will finance the home as the 2nd lien holder so if you plan on refinancing or selling the home, you have to pay off the "program" to be able to do so.(3) Some of these "programs" have penalties attached for early pay off or transfer of loan to another.(4)  The interest rates on these "programs" for these loans are high as many of them do not use credit scores to qualify people seeking the loans.Finally, there was a recent news article in my local paper about the "HERO" program [one of the green programs] which warned about using the program for these very reasons:**Beth Mills, a spokeswoman for California Banking Association, said in a telephone interview that any program that makes homes more energy-efficient is valuable, but the financing structure is problematic.

I first jumped into the market by purchasing my primary residence in 2012 (which I recently sold for a profit in May 2016).

"You" put your taxed earnings into a plan that will allow withdrawals to be free of federal tax and in some cases state tax when the money is taken out to pay for qualified college expenses.

You need a 650 mid fico to qualify and no major derogs in the past 2yrs and you'll qualify.