The two are totally different strategies and use totally different skills. 

, and we came across a three property 450 unit portfolio in surrounding counties for a total acquisition price of about $50M.

I'm in the process of drafting a prenup; I currently have two LLC's, with a total of five houses combined valued at roughly $900K, half of which is mine, half belonging to my business partner; I also have two rental properties held in my name. 

@Eamonn McElroy is correct, as usual.The only thing I would add is that the net income from the SMLLC that the owner receives will be subject to Self Employment Taxes, which would include social security and medicare.

 (2) A HELOC is more like a credit card that is secured by the property, in that we can take a draw and pay it back and then take another draw, and pay it back.  

To me, if you only have $10,000 AND you know as much about direct mail as you know about PPC (if you're brand new to both), it makes total sense to buy HIGH INTENT clicks.  

It is also possible that cross-collateralization is occurring, that is - one or more lenders has each of the properties securing the debt for the other properties.

Your biggest goal right now should be getting a decent W-2 job (assuming you don't have one yet, but if you do, congratulations again) to justify both your college debt and additional debts to secure real estate.

Whatever you offer is cash in his pocket vs losing it to an inevitable tax lien sale = no cash & eventually no where to live.Most of these 'people' are oblivious to any knowledge of financial security so I'd find out what he would take to just walk away flush with cash.

Once the tenant moves in next week I should have about $1,500/month in positive cash flow between my 3 condos, plus I’ve created about 150k in equity with only putting 72k total cash invested so I’ve double my investment and earning solid cash flow.