@Jules H Yes, you can execute what is called a Construction 1031 (or Built-to-Suit or Improvement 1031, they all mean essentially the same thing).

In my short experience, the typical HML I’ve seen generally loan at 25-30% LTV with a note duration of 1-3 years, with the main benefits being a typically fast close and not having to go through a traditional lender for a Fannie/Freddie loan.

Before I pose my question, let me start off by saying that I completely understand every RE deal/strategy is different and each comes with its own pros/cons, as well as your own personal goals/desires, etc, etc, etc.So in a very generalized sense, if a would-be real estate investor has the option to start investing in SF/small MF RE, or being a passive investor in a larger syndication deal... which one typically is better (ie better returns on your investment)?

Typically houses in the neighborhood are sold very quickly.Other costs for me are joining the REALTOR association. 

The Margin is fixed while prime rate floats and its typically interest only.As for fixed rate loan cash out refinance its fixed its great but downside is you pay interest day 1 even if you have a project to work on or not.Depending on how you plan to deploy and how much you think you'll be deploying you'll pick a fixed or a line of credit.

In Chicago, we typically go with a Chinese made and American assembled cabinet.

Peter Bui If your looking at a rental and long term hold(more than 12 months) you should be calculating the yield and not ROI as the yield (or IRR) is essentially the interest rate on your $.

I've done a number of owner finance deals as a buyer, and an attorney is not terribly expensive, typically about $1k per property including the note and title search. 

Essentially your cost of money for the down payment is the after tax cost of debt...your home equity line interest rate after taxes versus the interest you are earning on your savings...I am guessing the cost of the equity line interest is more than what you are earning in the savings account...either way, I also suggest hiring a professional property manager to start with.  

I built in an independent WIFI network so that the laptop can register my IP address while they work from the Philippines.I'm currently working on more training videos for them to have them doing more things, one of which include about 45k emails a month.I can literally be on vacation now and not stress a bit, I don't check my laptop every 2 seconds, I don't typically return emails or many calls at all.