It's best to review with a good RE attorney, potentially a business attorney, and your tax professional to make sure you're set up to avoid mistakes along the way.Also, discuss the ramifications of how it works with your lender (if there will be one) as not all lenders and loan programs are created equal when dealing with LLC's.

Is there a danger one could end up taking more from the LOC account if say rent doesn't equal to withdrawal due to vacancy or tenant not paying rent etc? 

The higher our value, the higher the equity gain is - even if the % of gain is equal between the properties...the dollar amount is higher on the higher valued home because the property is worth more.

Before rates went up, if you could beat the "1% rule" (i.e. annual rental income was equal or greater to 1% of the total price (purchase and rehab) of the property) it would usually cash flow. 

Patience and staying well-informed are vital in real estate.

There's nothing wrong with changing your criteria, as long as it is applied equally to everyone at that point.

I found it better to buy nice furniture, and try to find deals or less expensive decorations and such to try to equal it out and make my budget work.

While I'm intrigued by the idea of DSCR financing and hard money lenders, I feel they might be a bit too pricey and risky for me at this point.That said, I'm excited about the prospect of partnering with someone on a deal, whether it's as a minority partner bringing value through sourcing deals or as an equal partner sharing the workload.If you're on the lookout for a young, motivated investor to collaborate with on future opportunities, I'd love to chat.

It really is tough to say exactly what equals what. 

These are vital for investors.