re: Suggestions on HELOC

Sounds about right but couldn't remember exactly.

Setup an LLC to own the commercial property and the operating agreement covers the payback to my HELOC, including interest. That's all that matters and it happens automatically.

On another note, the process was very easy. Submitted the application and approved within 24 hours. They asked for a few more documents, then set a "closing" (was just a handful of signatures and at their branch office) for around the closing date for the commercial building. Called and picked up a cashier's check.