The bank uses the value/equity of the land in place of a down payment towards the build or LTC.

@Salvatore Spano Yes, some LLCs are exempt from submitting Beneficial Ownership Information (BOI), such as large operating companies with over 20 employees and $5 million in gross receipts and certain regulated entities like banks or insurance companies.

Yes, I think, like a lot of topics that get passed around real estate circles (like 0 down physician loans...which I have never ever seen one actually close haha) there are these mythical products that people don't realize may only exist at one small bank in one small corner of the country and not actually be available to most.

If it is a brand new entity with 1 to 2 bank accounts with no credit cards, it might be cheaper. 

Should I try local CU or any of the larger banks such as BoA that are offering no-fee helocs online?

To separate your inherited funds, set up the LLC using only money from your inherited trust and open a dedicated bank account.

Most of the industry (as well as lending and banking world) will stand behind any carrier with an "A" rating or better.Non-admitted carriers have some great advantages. 

principal is what we investors like to pay - it builds wealth.interest on a HELOC builds wealth for the bank.

I heard some lenders would consider future rent that I will collect from the property even if it’s just 7-80% of it, and when I talked to two mortgage lenders so far they said it won’t be counted until I actually have the rent come into my bank.

Yes, you will want to keep track of your personal Contributions and Distributions and having a personal bank account and business bank account is one way to do this as @Michael Plaks mentioned.