Lots of loan options can close in an LLC, helocs usually need to close in your personal name.

I have a 780 credit score and no debt besides my personal residence.

Some private lenders will step in and fund.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

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?

If your firend wants to stay in the place AND has the funds/income to do so, they need to refinance in their name ASAP (as part of the process), not 5 yeas from now, not if they remarry, not 10years from now.   

You can't commingle funds. 3.

Once the funds are up and they can't repay the loan(s) back because offering free services are just enticing new investors that do not have a real system setup.

@David F.As Russell mentioned co-ops are probably 1/2 the price of a condo and you would also have extensive costs to set up a co-op and typically it’s my understanding the builder funds the first 1-2 years of reserves.

Have you calculated what your (monthly nut) is you need to survive business wise and personally?