I have some funds of my own, but not enough to cover the steep down payment. 

If communication is poor and/or we're not receiving regular updates with pictures and/or videos, we won't fund anymore projects.

If you can find those two with a desirable property and location you should be ok.

**This is not legal advice, but is what was promoted to fund a guru company class**

Are we able to transfer our funds to each other's LLC without worrying about taxes since they are both under the same parent company?

The HELOC may or may not disappear, but it will likely be "extinguished" from the property title after auction.After a first mortgage lender forecloses and it's lien is paid off with the proceeds from the sale, any surplus funds from the foreclosure sale are distributed to creditors holding junior liens, like a second mortgage lender or judgment creditor.And by the way, YES you should serve notices prior to entry just to be safe.After you acquire the property, what is the goal? 

I was drawn to this type of deal because it offered the potential for significant appreciation in a desirable neighborhood.

I was drawn to this type of deal because it offered the potential for significant appreciation in a desirable neighborhood.

This information is needed for excess fund research and REO properties.

I got helped of a good amount of start up funds to get started... which gave me insight on a target month to start.