My dilemma is that one of my properties is worth about $400K and I owe ($40k on a HELOC & $50K on the mortgage) and I'm on tract to pay them both off in 16 months- paying ($2000 from the renter and me paying $4000 a month on the HELOC= $6000 per month total) I plan on doing this until both loans are paid.

Quote from @Jorge Vazquez: For what it’s worth, after 20 years and 3,500 transactions, I’ve never done one myself.

Several things to consider: 1) One of the main purposes of segmenting your assets into separate LLC's is so that your personal net worth or equity in other business ventures or properties isn't exposed, so unless you have a high net worth or a lot of equity in a property, it might not be worth bothering going the separate LLC route, especially when it restricts your financing of the property.  2) Most any commercial financing you get from a local bank for a small property is going to have recourse anyhow and require that you sign a personal guarantee, so you're still personally on the hook to the bank even in the case of a commercial loan.  3) If you're a newer investor and buying a deal that's tight on cash flow, or if you don't have a ton of cash sitting in the bank already, your greatest risk factor as an investor is your investment failing economically due to poor financing terms or not operating the investment properly, not because you get sued. 

I think this is kind of a daisy chain from other sources, so it's not worth it; it's a kind of like Investor Lift for wholesalers.

If you’re considering expanding your portfolio, those markets could be worth exploring. 

Is that doable and worth exploring further?

Might be worth a read or talking with an attorney if you do not have a real estate broker's license.

All in all it was worth it for us and my client over those years, but you never know when you will get that proverbial knock on the door. 

I have about $120k left on seller financed loan and the house is worth $280k.

The investment is worth it as your income grows.