What are the pros and cons or could it have a negative impact on resale or renting the property at all?

@Alexander Burkard I think they both have there pros and cons, but if you are starting a partnership and looking to grow, it makes sense to build with the protection of an LLC.

:PROS:- Being unsecured, this is fast funding for this capital - generally 5-7 days- Can apply for up to two times your annual W-2 income- Unlimited use of funds (rehab, down money, legal fees, rehab reserves, cash for auction properties etc)- Re-usable, or payoff (no pre payment penalties)- No up front fees of any kind, and fees are taken from proceeds, so you dont need liquidity to obtain this capital (but you do need to show consistent W2 income)CONS:- Not the cheapest capital.

Pros: I don't need to do anything.

What are pros/cons of staying with Chase or using a different bank?

What are the pros and cons of getting a Home Equity Loan to use for a down payment?

It definitely has its downsides, but from my experience, the pros have outweighed the cons tenfold. 

Another option is to contact local banks and try to get a HELOC to tap more cash to make a purchase, but what are the pros and cons?

There's pros and cons to every location and deal and circumstance, it's a matter of deciding based on your own goals and risk aversion.

(Yes there would be some pros of doing it before I get the deal as I can see what the future will entail etc) but until I actually make money/close my first deal I do not need to do anything tax/accountant related right?...