My goal is to leverage the remaining balance of the second HELOC to fund another investment while exploring hard money or other creative financing strategies.

Double your money on your 60% left over. 

Good luck, My wife and I are starting also, we also plan to do the BRRR, method,would love to talk more, maybe shares some do's and dont's that you may run across and we could share the same info to you. we are in the st louis area

Oh, one more thing to be wary of, section 8 contracts states that if you have long running issue and not fixing it, not only can they stop the rent payment for that unit, but for every unit in that property.and another one. 

So buyer brings more money to the table . 

Short answer: No, you don't need to (or likely want to) transfer the deed to an LLC before selling. 

To make my question short, my wife and I just sold our house in Lincoln and made a profit from it.

With conventional financing becoming more restrictive, real estate investors may turn to hard money loans for acquisitions and rehab projects.

But just to be picky because we actually do run into the limits.The Section 461(l) excess business loss limitation doesn't apply to business income.Extreme example to illustrate: You get a $1 million W-2 and a K-1 with $2 million of income from your S corporation.

Cheaper doesn't mean you'll make more money.