If you are really concerned about the appraisal, you can always purchase one to be done for your property prior to starting the HELOC process and provide it to the bank when they request the appraiser.

My intention was to minimize my reported taxable income after taking expenses against the earnings through the LLC.I don't see how this would benefit you tax wise.In fact, I would be concerned that by mixing personal business (rental property in your name) with the LLC that you could basically nullify the liability protection the LLC offers  allowing anyone who sues you to pierce your corporate veil because of this co-mingling. 

As a beginner, you'll have less funding opportunities, use that time to learn your process (whatever it may be).

Quote from @Alan Roth: I'm already concerned.

If major issues or concerns are discovered, provide detailed information to the seller and either negotiate a discounted price or consider walking away from the deal.Due diligence is the backbone of successful real estate transactions.

Here are a few I recommend: "Rich Dad, Poor Dad" by Roberto Kiyosaki; "Set for Life" by Scott Trench; "The Unofficial Guide to Real Estate Investing" by Spencer; "The BiggerPockets Ultimate Beginners Guide" found here on BP; "The Book on Rental Property Investing" by Brandon Tuner.

but it sounds like your mind is made up on this mentor.. flipping right now is a pretty tough gig for a beginner depending on market. very low inventory then sky high rates for your buyers. so use caution be careful also make sure you have a GREAT RE Broker who knows the values and what you should and shouldn't do in the rehab to maximize your returns. these things are very market specific U simply need to make sure your matching what is expected in the market you choose.. 

I applaud Josh for reaching out personally to address my concerns and I plan to continue working with D2D. 

However, once you move out and rent both units, forming an LLC might be worth looking into for liability protection.2️⃣ Zoning concerns?

.), existing site conditions (high ground water, site topography, existing soil types and soil environmental concerns, etc.), the location, depth, and capacity of utilities to service the site - including public utilities (sanitary, storm and water services), franchised utilities (power, gas, cable), capacity of the local streets to accommodate additional traffic from your development...Be sure to find out if there are any specific local ordinances you need to satisfy (possible tree & wetland surveys, together with any necessary tree & landscape or wetland mitigation plans) and whether there are any concerns from municipal departments (e.g. hydrant locations from the fire department, storm inlet and retention requirements, as well as asphalt / concrete road requirements from the engineer), entrance requirements from the road commission (left turn and passing lanes at the site entrance), etc.Once you get past all this you can finally prepare a preliminary site plan and enter the political arena to get preliminary site plan approval, and to address any concessions the board and neighbors want from you to overcome their objections to your development.