if something is just sitting on the MLS looking too good to be true... then it's too good to be true.these properties are going to have higher costs overall, be in more challenging neighborhoods, have very gnarly deferred maintenance and capex, potentially have liens, be high turnover, and require expert, highly knowledgeable, localized support to be successful. see for example this thread.https://www.biggerpockets.com/forums/48/topics/1137397-balti...and even at those price points, i think cash flow is fairly low to non-existent if rehabbed to a high grade, especially with DSCR debt. 

What are the potential tax implications ups and downs of transferring the residential property to business ownership and then acquiring debt on it?

If you're making 4.5% now, you'll pay more servicing the debt on a HELOC.

The property is in a prime location, close to Old Town Clovis, Fresno State, and outdoor activities.My debt-to-income (DTI) ratio is currently at 50%, but will drop to around 38% in April when my average income increases to $144k (its already there but for loan reasons it needs 2 years of tax returns)..

Liquidity is dry, debt is super super high on credit/auto.

However, the lender will consider the rental income from the other unit when calculating your debt-to-income ratio.Here’s what you need to know:- **Interest Rates**: You might not have to pay higher rates just because it's a duplex.

An agent who invests themselves will often have insights into investor-friendly lenders and can help you navigate the requirements, including debt-to-income ratios and how to factor rental income into your mortgage qualification.

Ultimate goal is obviously to build cashflow as seamlessly as possible and pay down debts of houses as we go so husband can leave his consulting job and we can do real estate full time.

How I understand it is: charging order protection shields LLC assets from being seized to settle personal debts or judgments against its members.

I suggest opting for a lower PPP period and taking a hit on the rate, if you are still debt covering.