WARNING: Technically, deeding a property to a new LLC could trigger a 'due on sale' and the bank that holds the note COULD decide to call the note due.

I'm new to investing but have loved listening to bigger pockets for years and am ready to pull the trigger on a HELOC and begin my investing journey.

Some things to think about:1) "I saw how easy it is to get a license here" - low barrier of entry is not a good sign2) "I currently own one rental in Columbia" - you have no idea what you don't knowWhile your enthusiasm is commendable, it won't pay the bills or increase your knowledge.Property management has a "million moving parts" and any one of them can trigger a disaster:(So, you may want to consider working part-time for an existing PMC to learn the ropes.Of course, you can also charge full speed ahead and see what happens...

So it last sold for 50k, and I paid just south of 200k for it, and so I am guessing that this increased price is what triggered the excessive property taxes. 

Generally, entity changes can get done in such a way that doesn't trigger a taxable event but should be planned carefully with your attorney and accountant. 

"don't over analyze your first deal, pull the trigger and learn like crazy." 

I don't see why this would trigger the bank to sue.

20% CoC return… pull the trigger

When running the numbers, accounting for vacancy and capex, the cost on cost return (yield) is 0% or slightly negative on almost all of the properties we look at.I'm tempted to pull the trigger anyways.

@Milton Carrillo changing the building from a two family to a three family would be considered a “change of use” which would trigger new construction standards, which are sprinklers.