I’m on the deed, not the loan for the current house I live in here in GA. 

If someone injures themselves and sues, they will be suing the LLC and not you personally.

Personally, my primary residence has appreciated around 6% in market value and I live in Levittown. 

I personally am interested in creating a long-term rental portfolio but I'd be interested in hearing any strategy, ie. house flipping, short term rentals etc.

Your question has been debated between BP tax experts both privately and publicly, for example here: https://www.biggerpockets.com/forums/51/topics/819991-expens...And we ended up where we started: no consensus and no clarity.There have also been court decisions that support my interpretation, even though I personally find these court decisions debatable.

I personally do not have experience managing rentals.

I do a heloc on the house and I am the only borrower on the heloc.

He owes 650k house is worth about 1.4M, however, he only needs 300k.

If you are newer I'd suggest a house hack unless you can rinse/repeat this process again. 

Just my personal opinion - get a mentor or a person who already has good experience running STR business, preferably in your area (but not 100% required).