First Rental Property Financing

[Linda Conrad]

Merry Christmas all! It's time to celebrate. We paid 50% of our HELOC in just 2 yrs. Now we are ready for our First Rental Property. Need your advice. Should we/can we sell the home to the LLC? It's our primary home. We will move and make it a rental property. If so, for how much? Market value or HELOC amount? If we do the later that can affect all the homes in the area's resale value. If we go with the first option, with high business loan interest rates, we can get it to be income producing. It's in Fredericksburg, VA. Please weigh-in what are your thoughts? If you have a really detailed response. Heloc rate is at 9.64%. I was thinking of getting a business loan and paying off the heloc?