I've read how people create an LLC for their REI adventures and secure commercial loans versus getting conventional loans under their personal names.

Versus waiting months as you note, went with two 200 amp services.

A nice carport can help alleviate that but all being said I do not think it should be a deal breaker but you should expect to see a slight discount in rent and demand versus other comps with 2 car garages.

If we do a HELOC to finance the rehab, is that appreciation determined by the difference in the sale price versus what the appraisal for the HELOC was?

It is always cheaper to go with a cash out refi via conventional mortgage versus hard money.

3-A property acquired in August would require far more cash at closing for prepaid taxes versus the same property acquired in June of the same calendar year.

People often talk about Bay Area prices being "inflated"; however, what I find valuable is to compare what has happened here in the Bay Area versus in other parts of the country relative to true inflation rates. 

The cap rate versus dividend rate is the only spread you'll see where hard assets>equities in this. 

Luxury vinyl tile versus ceramic tile.

If that's the case, you're going to go places that have lower than median households by a disproportionate amount, also likely higher crime, and steadily less accessibility.I think the root of your question should be what does my risk tolerance allow versus how cheap can I go?