Do I have to get a title company involved?

Perhaps it might give you a better eye for structural details/problems before committing to a property purchase?

A HELOC (or Prime Equity LOC to be semantically correct when it involves a rental as @Chris Martin has pointed out elsewhere) will have its adjustable interest rate pegged to either Treasury or LIBOR.

I have to assume that with the size of house I am building, there will be kids involved.

I have a 2 family very close to downtown Springfield for 7 yrs or so , a good friend has 2 duplexes and triple decker. so I know the area and if you want an uphill battle Springfield is the place to goWhen looking at any area the local economy and infrastructure should be considered (especially for a buy and hold) , and I quote Ann "perpetual state of recession" no one seems to ever have consistent cash flow .There are areas but you want to be very familiar with these areas and even there can be rough one way or the otherjust my two centsI have some interest in the area because I know it somewhat but Worcester is definite step up and has my eye

All of this is negotiated and spelled out in your operating agreement your attorney sets up.Expectations have to be clearly defined and agreed to UPFRONT as equitable for all involved.

Theoretically this can be done in one swift action, however, title companies are more and more unwilling to partake in anything but the most straight forward transactions.While most real estate buyers will demand title insurance, I, like many other experienced investors, have sold property directly to buyers without title insurance or title companies involved.

The whole business structure and idea of getting paid to find RE deals is an underground activity in most eyes looking upon your activity.

Give him a case of cheap beer and ask him to keep an eye on the house.

Jordan, there are a thousand ways or combinations to approach such projects, often under syndication, with tax credits granted, can be in a REIT or other structures, sole owners, affiliates and subsidiaries may be involved.