HELOCs are not good loans for long term financing, if you read the fine print, there are many things that may trigger the change in interest rates or having the loan commitment reduced or even called, they are best for short term financing needs that can be paid off quickly. :) 

You can always form a LLC/Corp later and transfer ownership to it but understand that it could trigger the "due on sale" clauseAs far as a LLC vs a corp the vast majority of investors I talk to do a LLC.  

I know its harsh for me to say that but than you see them starting academies and coaching and this and that.

I am so ready to pull the trigger but am so intimidated by the cost of housing in my area of Bergen county.  

A lease with option to purchase is not officially a sale, so that shouldn't trigger a commission payout in my opinion.  

We don't have any property of our own just yet but we are saving capital and when the time is right we will pull the trigger on a good deal. 

I've spent way too much time browsing listings and trying to find potential online but have been very gun shy to date.Hoping to learn a lot and maybe pull the trigger in the next year or so!!!

Also i would love to know what your buyers are interested in and pulling the trigger on.

The rest is history, just put one good deal in front of another.Finally, when you find it - PULL THE TRIGGER!

Originally posted by @Joe Villeneuve:If I ever buy a house to hold with negative cash flow...please shoot me.While Joe's answer is a little bit harsh, he has a great point, don't do it, keep looking and find a better deal.