I currently reside in Ohio where I buy SFR rentals and do a couple flips a year.

I own my current primary residence & have about 140K in equity.

Hi @Jinxiang XuSorry to hear thisRecommendation would be - Molberg Plumbing Fort Worth local (817) 754-5505They have done work for my clients and my primary residence 

In this case my plan is to use a HELOC on my primary residence to purchase the property in Puerto Rico.

The bottom line is this: Concealment is not asset protection, proper (time consuming and expensive, I know) management, and good, prudent, practices (ditto), WHICH ARE ADHERED TO, and insurance (expensive), are needed for asset protection.

My primary residence is an apartment I rent in Brooklyn NY.

In some cases, it may not be possible to purchase and store materials, but if it is, that is one way to protect your budget and avoid a costly mistake.The last thing I would offer for you to think about is having a pivot plan. 

@Kyle Kulhanek To retitle your Chicago condo into an LLC for liability protection, start by forming the LLC with a clear operating agreement outlining ownership and responsibilities.

neither is a primary residence and most of us have those too.  

Investment Info:Single-family residence wholesale investment.