LLC Owning properties using HELOC funds?

[Joshua Jones]

So I’m just starting my real estate investing. 

The plan was to take the funds I have and use a HELOC on my primary residence for down payments.

Also plan on LTR and eventual 1031 exchanges down the road. 

But I need to limit liability as I grow. 

My initial plan was to start a new LLC for each property.

Create another LLC that filed as an S Corp with my wife and I as members and have the S Corp the member of the LLC.

(I use a similar pass through structure with my main business with my biz partner and myself.)

But that leads to a number of questions:

1. What about the HELOC money? Can I buy the property as an individual and then quickly transfer to the LLC?

know with the 1031, it has to be the same entity selling the old property and buying the new.  

2. Will lenders be fine with me purchasing the property as the LLC but sourcing the funds through my HELOC?

3. Random side question, if I create a new LLC for each property I purchase and I use our dual member S Corp as the member of the pass through LLC, does that still limit the liability?

Meaning if Pass Through LLC #1 was sued, would they have access to the assets in Pass Through LLC #2, because our S Corp is the member associated with the pass through?

Overall, I’m trying to think long term before I pull the trigger on anything.