Follow the laws and especially the notice procedures, or you'll find in court that you did it all for nothing.

Proceed with caution.To answer the question directly, I once heard J Scott (a very successful flipper who hosts one of the BP podcasts now) say he wishes he had held onto every house he flipped.

You need to know each area before proceeding.

It wasn't until Winter of 2019, when Grant introduced me to the term "House Hack," and then proceeded to purchase me a copy of Scott Trench's "Set For Life."

Can I do a 1031 exchange and buy her out of the second unit with the proceeds received.

Another risk could be landlords who have proceeds from cash out refinance that are not properly traced and accounted for.

A person for whose benefit the bond is written or his legal representative may bring an action in the district, common pleas or municipal court where the landlord resides or does business for collection on the bond.Bottom line, if the landlord obtains a bond, the funds can be co-mingled in the landlord’s general operations account, from which normal bills are paid.

If you get a 50/50 split from the get go with no money contributed, then you could immediately force a sale and collect 50% of the net proceeds without doing any work managing the property. 

There may be some other ways of defense and we are proceeding with the attorney’s help.

So you'd take the proceeds from your refinance, buy another home and fix it up, and then refinance that one - over and over again.As for an LLC, do a search here - you'll find many many opinions on LLC or not.