Hi Zak-Great question.It sounds like your credit union is offering you a Home Equity Line of Credit as they do not expect principal payments and your primary bank is offering you a Home Equity Loan.Personally, I don't like having to pay on an equity loan unless I use some of it and only pay on the part I use.Although, this is a personal decision for you.If you make investments that provide enough cashflow to pay the principal and interest to your primary bank on the equity loan it doesn't really matter to you as others are paying it.Another consideration is the amount of dry powder available to invest.

I sold a few homes in Jackson MS to Naca buyers.. its a process and the homes had to be in perfect condition before naca would close  IE FHA or VA appraisal standards at the minimum.. the program is designed for first time home buyers or low income home buyers also NACA was very firm on us ( the seller) buying down rate and closing costs. 

This person is to diplomatic, think someone took over his account.

I recommend getting 5 bids and picking from the top three.As far as you, personally., estimating rehab costs....forget it for now.

The reason being is this Person i never had a lease with or rental agreement comes and goes from the property and is NOT living in it..

I follow some real estate investors and want to put some of the strategies I learned into play.A little bit about me: I came to the U.S. in 2019 to study electrical engineering and always tried to learn how to better manage my personal finances.

You are bidding based on still owing that amount. depending on the state you need to know what is superior and inferior. think about it this way, you are marrying a person with kids from a prior relationship - those kids do not go away, you are taking them as well.2.

Best to talk the tax issue over with a CPA but the loss will be reflected in the K-1's and can offset gains in other deals, provided they both flow through to the same entity (or you personally).

Does it matter if I keep the rents in my personal accounts?

Other options I would consider is renting each individual rooms (this generally increase the monthly cash flow vs renting to a single person).