However, this is not a cash out refi.Cash out refi is when you refinance an existing loan, with another one (i.e replace the loan) where there is enough money left over at the end of the process where you can put some proceeds in your pocket.When it comes to your strategy - just make sure you're being conservative with your numbers on the purchase / rehab if you don't plan on using other proceeds to payoff the HELOC. 

I believe transparency and integrity are the foundations of any good business, and it's refreshing to see others are aligned with that mindset and practice as well.

Given your financial constraints and the property's ineligibility for historic tax credits, this approach allows for reinvestment into assets more aligned with retirement account rules.For future real estate investments, you don't need an LLC for tax reasons.

Early on, rents would remain market-aligned to ensure the portfolio generates the income needed to cover expenses, pay investors, and reinvest in expansion.

I’m a third-year student at the University of Florida with one year left until graduation, and I just got my real estate license.

Then you have to align the beams so they connect with each other. 

You left out Furnished Finder as the best way to find mid term renters.

Cost segregation is best for long-term holds and should be carefully planned with a CPA to align with your broader tax strategy.This post does not create a CPA-Client relationship.

And was any of the farmable land left farmable? 

I left with a sniffle, with bleeding fingers, cracked lips, and a perpetual risk of a nosebleed in the heart of Denver winters that get so cold, my toes start to turn blue after 5 minutes outside.