My partner and I have had our eye on a property for a while but never pulled the trigger because we were hoping the price of the property would decrease.

If you're living in the property, rent is decreased or non-existent, affecting the property's ability to generate income.RESPA rules are real and have a purpose. 

Generally speaking, holding rents lower will decrease turn over.

It only appreciates or decreases in value a percentage of the change in my neighborhood median income from the time I bought, 2012, to the time I sold... yeah my situation is crazy!!!

You may want to double check your numbers. 1.5% or even 1.6% on a fixed 30 year loan seems off, as a result that will increase your expenses, and decrease your monthly cashflow (probably putting you close to zero if not negative). 

And as long as he purchases in total at least as much as his net sale he'll defer all tax.There are lots of opportunities to decrease his management headaches including NNN commercial properties, DSTs, managed multi family, or resort or company managed vacation rentals.

Many states require an LLC to borrow hard money. (3) Decreases liability, minimally, from legal action.Cons: (1) Costs to own and upkeep. (2) Often adds a costly step to buying property, as banks tend not to lend for single family housing directly to an LLC and therefore must be transferred from personal ownership into LLC. (3) Only limits liability if set up correctly—and many aren't. (4) Transfer from personal name to LLC can trigger "due on sale" clause.I'm probably the rare one around here who owns all my rentals under my own name.

Keep in mind, doing this will decrease the cashflow on your original property since you will be refinancing, most likely resulting in a higher monthly payment. 

If you buy in a location where prices and rents are increasing below the inflation rate, the buying power of your rental income will decrease over time.

I’ve got to get this monthlY payment down to create more cash flow - I like the idea of a HELOC -  My broker is suggesting I refinance to conventional and take out a HELOC Simultaneously -My goal is to decrease the original mortgage payment and use some of the equity to purchase another home.Any words of wisdom and experience are appreciated :)