This is particularly important as you acquire more properties.Transferring the Property: If you're thinking about transferring your current rental property into an LLC, be aware of potential challenges that I have personally seenMortgage Implications: Check your mortgage agreement for any clauses related to property transfer.

We are looking to acquire an SFH that can be converted to a multi-unit duplex or a SFH in need of rehab that could be converted to a multi-unit duplex.

@Elia Caputo so, how many properties can you realistically acquire?

Quote from @Tom Dean: Would appreciate any advice, I would like to invest somewhere in the southeastern quadarant of US (for example I'm open to somewhere like Missouri that isn't traditionally part of the "southeast"), looking for somewhere where I could acquire a SFH STR between $250k - 325k. 

My book on Turnkey Real Estate Investing - Simple Concepts to Overcome Analysis Paralysis and Acquire Your First Rental Property in 29 Days (this title is a work in progress) should be released before the end of October.

The HELOC may or may not disappear, but it will likely be "extinguished" from the property title after auction.After a first mortgage lender forecloses and it's lien is paid off with the proceeds from the sale, any surplus funds from the foreclosure sale are distributed to creditors holding junior liens, like a second mortgage lender or judgment creditor.And by the way, YES you should serve notices prior to entry just to be safe.After you acquire the property, what is the goal? 

Developers will not acquire a property that does not meet their minimum ROI, so the only way for them to buy it is if the seller sells it for less.

A capital expenditure is money spent by a business or organization on acquiring or maintaining fixed assets, such as land, buildings, and equipment.

You can always start off in real estate by acquiring a property as a primary residence.

I'm not trying to scale or acquire "more doors".