Additionally, you may wish to speak with a CPA as to whether or not becoming an S Corp is the right decision – they can assist with reducing self-employment taxes.

There is some additional information that wasn't mentioned in your post above which sheds a different light on the situation.  1.

If you feel ambitious, you could try a BRRR strategy adding additional equity to the subject home and then taking equity out of it to pay off either the HELOC or if you decided to the refinance the primary residence. 

This poses an additional challenge for new RE investors.  

When analyzing a market and breaking it down into property Class submarkets, do you find it helpful to complete this division at the city-wide market level, or do you find it also beneficial to additionally break it down by suburb, and even neighborhood?

There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues.

She'll help you arrange where the furniture should go, and links to any additional accents she recommends (rug, curtain, curtain rods, accent tables, etc)

I assume there’s additional language in the PPM, or at least I’d hope, but the language can get very confusing by that point and many LPs don’t understand what they’re reading.

My advice would be to partner with someone who has additional funds so you can buy something that is of quality. $8k won't get you anything in a class B or A market with 20% down or even 10% down. keep going though!

Any additional advice is helpful.