And yes, you should be able to use the HELOC for the renovation.I was thinking this route also but than I would have to go for an extremely low priced property for the heloc to fund the whole thing.

I can tell you from experience that you can only taking flipping so far before it becomes extremely difficult to scale. 

You need to perform extreme due diligence before investing in Rent Stabilized properties in Brooklyn, NY ( NYC & NYS).

I have yet to see anyone actually do 50 a month..  5 to 10 sure.. and maybe REI nation gets close to that but they have like 50 employees and are extremely well capitalized and are in many markets. 650 flips in 10 years is 65 a year and that I can believe so your sending out mix messages  Just sayin. 

I think the sale triggers a change from passive to active and it can be used to either lower basis or offset capital gains/depreciation recapture and if any is left your ordinary income.  

I really see Columbus Ohio as an extremely safe bet for the next 10-20 years.

The fha 100 mile rule will be triggered whenever you try to vacate your current primary and also trying to use the rental income to qualify.However, this 100 mile rule can be exempted for the following rulesRelocationIncrease in family sizeVacating a joint owned propertyNon-occupying co-borrowerIf you are not trying to use FHA on your 2nd househack, you can use conventional and the rules that I mentioned above will not be a concern.

If I were you I would reach out to the mortgage holder to get permission to transfer the property to the LLC without triggering the clause.

I’ve been doing my due diligence for over a year now and I’ve finally come to the point where I need to pull the trigger.

Most investors are doing LLCs from my experience... but that doesnt mean you have to. there are some liability protections with LLC, along with a little anonymity if set up right. but also some added costs. one suggestion here is just whatever you decide, stick to it. some counties will see a transfer between personal/ LLC or vice a versa as a 'sale' and trigger property tax reassessment.