You should also look into the tax implications of a HELOC vs. conventional loan as I recall that there are now limitations around the deductibility of the HELOC interest payments depending on what the HELOC is used for.

Most regulations I am aware of, which is limited, make it clear that once a property is sold any actions on the part of the seller do not transfer to the buyer.

Also, this loan has limitations, which are that the property must be located in specific "healthy neighborhood- target blocks" .

., a lot of folks don't really understand how an LLC limits your liability. 

My investable capital is a limited resource, whereas investment properties (with enough time, researching, and patience) is less so.- Management - Don't forget lease up/renewal fees...Lease ups can cost up to one months rent, with renewals being less costly.- Insurance - this cost will depend on the property but likely that it will cost more than $20/month by at least 2x.- Water/ Sewer - Should be able to charge back to tenants.- Interest rate - Feds raised rates again, so might be tough to find a non owner occupied (assumed due to your location) conventional loan @ 5%.- Confirm property taxes on the county website.Feel free to PM me if you have questions. 

The other limiting factor is that we have two children and child care is not cheap.

Most lenders have limits on the cash amount of repairs to be escrowed.

Louis and want to get a team together, i feel this is critical 

It got us in the game and we worked with a great attorney on drafting the lease option agreement and structured our first Limited Liability Company.

The conventional loan limit, Fannie Mae/Freddie mac is 10 mortgages properties, after that you’ll need an in house portfolio loan or commercial loan.