I wear a few hats as a realtor, property manager, STR host and project manager so if you'd like to chat about any or all of those services, I'd be glad to schedule a call!

The primary goal is appreciation adding value building equity and therefore net worth.I’ve been at this “game” 46 years  and there is no magic bullet.It takes time, discipline and consistent effort.But it can be done in 10 years.Of course this means living below one’s means - ie spend less than they make - to develop and build cash and capital that can be invested and then watch ot grow over time.Hope this helps.Arn

I have REPS status, but currently rent this particular Property to my Property Management LLC that leases this home "from" me and and pays me 5000/month rent as shown on my soon to be Schedule E.

The discipline to run on a budget for a number of years or decades depending on your math, doesn't factor in emergencies or market changes where the HELOC could be used to invest in other places.

This of course will affect productivity and delivery schedules. 

I reached out to the individual marketing the deal to schedule a property viewing, but they’re asking for proof of funds (which I expected) and a signed purchase agreement or LOI.Is this normal?

Now you schedule your purchasing closing assuming the balance on the mortgage is equal to or less then the as-is value. - NOW the seller has to be willing and able to move out before your closing date.  

I like to stay in the working class areas as they make enough to pay the rent and bills, but don't have the financial discipline to save enough to purchase their own home. 

I’m happy to work around your schedule and meet at your convenience!

@Polat Caglayan I already responded to another post of yours.Your question will take a lot to answer correctly, so please DM us to schedule a chat:)Thanks @Jonathan Greene!