I'm struggling a little bit on deciding the best agreement to make sure I can get some cash flow, payback the HELOC, and not drive the new mortgage up too much with the Refi out of the HELOC.

Have you refinanced this into a long-term mortgage?

You also cannot use a second mortgage (from HML/private lender) for a 2-4 unit non owner property. 

That’s half the cost of Prime’s reduced rate.2nd, like everyone is saying, the cost of setting up and LLC is less than $100… closer to $50… if you just do it yourself through the state (not complicated).3rd, if you want someone to help you draft your operating agreement, hire a local real estate attorney and it will be significantly cheaper than $1660… probably cheaper than $550.4th, if you want someone to do your taxes and help you get your max deductions - talk to a CPA who specializes in real estate and they can review your operating agreement to see if you’re setting yourself up properly, and they can do your regular taxes… and be cheaper than Prime. 5th, a separate CPA can work with you regularly to review your investments and strategies to determine good tax strategies as you look to execute any deals. 6th - don’t lock yourself into a crazy subscription model before you start making money!!!

,While no investment is completely passive, proper real estate investing should be relatively boring.You asked about the process and major considerations.

You may have heard that staging your home properly can make a big difference when you sell your house, but what exactly is home staging, and is it really worth your time and effort?

Learn the ins and outs of fit and finish, proper preparation, proper installation, rough in locations & MEP details... thinking 10 steps ahead on everything.

In both cases to keep things clean for underwriting at the bank I used my HELOC to secure the mortgage. 

It may or may not show on a credit report, depends on the servicing and you should have the loan serviced.Failure to include the debt on a future loan application is mortgage fraud, wanna go to jail?

I have a few brand new homes popping out of the ground in Canby Oregon.. msut of Portland proper is very old the new builds tend to be skinnies or expensive .