I don't believe that I'm getting any extra liability protection by doing so, and I'm not sure that you can transfer an agent's license into an LLC (in Ohio), anyway.What would someone buy if they were buying your LLC that had your personal real estate license in it?  

The great thing being, when we decide we need some extra capital for something, we just cut that out for a couple of months. 

We bought it and I spent the next 4 months working on a complete gut renovation of the house, living in a tent out back, begging friends and family to help hang drywall, pull nails from the oak flooring we salvaged from another local home days before it was demolished, or carry in the concrete counters we made out in the driveway.

If you need a permit that will be extra. if they have to fetch materials that is extra.For example this is kind of my 'max I'll pay' for various things based on past experience.

Question 1: see aboveQuestion 2: Refi with a 30y loan and pay 200 extra towards principle (17 year loan at that point), or a 20year loan, no extra.

What about roommate situations do you require one roommate to carry the whole load?

@Mathew Gunkel, I know it's emotionally logical to put your primary up for extra risk as a last resort, rather than first cab off the rank, BUT, that's why the PURPOSE for the loan should be really carefully considered in the first place.In case I came across as someone who knows what they are talking about, I don't actually know the HELOC rules/interest that Lenders have regarding using your primary as security vs your investment.

I've had cases where it was under market rent and by investing some extra time off market and rehab dollars the return on that investment was incredible, so keep an open mind to that as well if that's the case. 

I'm treating this all as a business so if it costs some extra fees a year to save my behind from being sued and losing everything why not pay the fee?

Yeah, let tenants build you up 4 more years of equity, while paying you a little extra each month and then sell at year 10 to get that multifamily you want.