We are building a place with HELOCs then after it is built we will finance it and pay off our HELOC, at least thats our plan. 

I don’t know when an LLC starts to pay off if you don’t have any partners.

Mainly the panel is in the basement and it would require a ton of work and paying for labor hours + repairs. 

Keep in mind of the I/O(payments/period) and game plan on how fast you'd like to pay it down. 

Quote from @Ricardo Lemus: For a newer investor, a good investment is a property that pays for all expenses with some cash left over.

But if this is a one-off, it's probably better to pay a local co-host who already has the local connections.Talk to @J.

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

Remember, if you sell it, you'll have capital gains that you will have to pay since you are buying the other property before you sell you're old house.

For example, in my state PA there is an inheritance tax and many TAX auction properties originate from people passing away and the heir(s) not taking control over the estate and paying those property taxes.

They pay their bills on time and make good tenants.