HELOC is just a credit line, So you can buy/rehab and refinance with a regular loan in order to pay back your HELOC if you want or pay back the HELOC with time.Depending on the type (1% Payback or Interest Only Payback) if you borrow 80k, your monthly payments would be $800 - if you were renting for say $1000+ and covered all expenses, then you could just pay back your HELOC and if rates adjusted, your payments is still 1% payback - you would just have more interest added on for the life of the loan.I have a HELOC and opened it up to be able to fund my rehabs or have extra $ to close on a deal.

After you prevail in court and get a garnishment order, the Seller could contact a BK attorney and file BK for $600 to set aside/avoid  your judgment/garnishment order. 

I saw your post because I have a keyword search set up for "self storage" as that is the area I focus on. 

Parents, teachers and coaches taught you, maybe pushed or dragged you along until you were set free to soar like eagles.

I would recommend setting up the LLC first if you're looking to do flips.

I have had my eyes set in Killeen Texas.

There are so many lanes for success investing in real estate, it really comes down to your individual skills set.

It is being fully understood that except as specifically set forth herein, Grantor has made no warranties, express or implied pertaining to said property, the condition thereof including but not limited to, matters relating to environmental conditions or hazards on the property"Then later on its says " We are the sole owners of the premises and have good right and title to convey the same in manner aforesaid, and that they are free from every encumbrance, except as aforesaid and WE hereby Warrant and Defend the same against all lawful claims....."

Then you can sell the contract to another investor for a set price that will go into your pocket. 

Each city sets their own criteria on who inspects your rentals and gives them the thumbs up for legally renting.