Please keep in mind that you may have prepayment penalty in your state.One of the main problem is that the interest rate is variable, so you really don't want to be in a position where you have to keep the money out very long as the rate could climb up.The other problem I have heard of but haven't had time to investigate further is that, apparently, the bank can call the HELOC at any time, meaning they may ask you to reimburse all the money they gave you at one point if they feel like it.

There are a few macroeconomic factors which could spell some trouble in the far future for Austin, but as long as building new housing stock remains difficult and there is at least a small amount of net positive migration to the area, housing prices will continue to appreciate (barring any other extenuating circumstances that are well beyond the scope of this post).

I'll second that the quit claim deed isn't a problem as long as you have title insurance to back it up.

This strategy is suppose to cut down a 30 year mortgage in approximately 7 1/2 years as long as you put more money than you spend.

(you'll still have 1250 depreciation recapture) OrYou can utilize a 1031 exchange to sell it and defer gains as long as you buy another investment

This also applies to used equipment or vehicles, as long as its new to you. 

You can locate the  office at yout house or apartment as long as you have the room that can be closed off and will not bother you with personal things to doGood luck to you!

As long as there are no hidden expenses or other downsides I would do it.

On smaller projects with a local community bank or credit union you can get away with less as long as you can show reserves after down payment of 6-9 months of debt service.

She doesn't care what I do with it as long as I take care of it.