You would also want to add the LLC entity as an "Additional Insured" party onto the landlord insurance for the property.

You'll likely find it easy to find people who will tell you what you want to hear, but you really need hard facts not speculation.But for some speculation, if you're talking about the Nantahala River or Little Tennessee, sure I think you might be able to do $22K/yr, but not much more, unless perhaps the places are uniquely styled. 

.- Value add - How much does it cost to build additional storage units?

I don't have the 10% for the down but thinking of using a HELOC to get the money and then add it into the calculator.

You may also need to provide additional documentation, such as proof of income and employment, and may need to have a co-signer who is a U.S. citizen or permanent resident.In terms of buying with an LLC, it can be a good option for some foreign buyers, as it can provide additional liability protection and potentially offer tax benefits.

The cons as i see it include loosing the 2 of 5 year cap gain exception, typically not an ideal rental because the emphasis at purchase was buying a good home for your family and not a rental with optimal return (my ex-home consistently has the lowest cash flow for equity in my RE portfolio), not disconnected enough from the property causes addition angst on damage and may result in over improvement.  

Both properties have a substantial amount of equity that’s essentially sitting idle.Would it be a good idea to tap into this equity (through a HELOC, cash-out refinance, etc.) to fund future fix-and-flip projects or purchase additional rental properties?

We wanted additional units to pay mortgage and have cash flow.

In addition you are sharing with cellular network, which gets priority.

Additional DetailsI’m willing to invest in out-of-state properties, though I prefer areas with good property management options.My primary focus is passive income, but I’m also interested in value-add opportunities.I want to ensure these investments provide strong tax benefits and diversify my portfolio.I’d love to hear from experienced investors:What would you do in my position?