It seems like the general consensus is to utilize a HELOC over a HEL to fund my first deal and then follow the BRRR strategy to keep the HELOC open for future deals. 

We have decided to sell because the value has appreciated and there are some capex items that are going to be needed to be replaced at some point in the near future that I don't know that I feel like paying for. 

I'm trying to establish a business credit trail for my llc, so I can fund future flips.

Depends on your future goals .

What I mean by that is folks getting completely set on the fact of buying a multifamily since that's what they were told to do that they're paying stupid prices for multiplexes where the numbers don't even make sense in the future if rents rise.

Could deter new tenants in the future.2) The boiler needs servicing and looks heavily worn/rusted, all pipe elbows are significantly corroded on exterior.3) Metering will make it easier to survey usage and determine equitable rent adjustments.So...best to "save" $200 per month in utilities, paying itself off in the long run (i.e. 50 months)?

Bob gets excited & begins planning for the future. 2 weeks later person A finds out they have terrible credit & the bank won’t loan him enough money to buy Bob’s house.

I'll need to put this into my contracts for the future.

About reserving future property management fees. 

Maybe if you finish everything, but by that time you're all in somewhere in the mid to high 400's, and remember the 5 years worth of payments at $1600 / mo.Lack of future appreciation - I can't imagine you're going to get another 60% appreciation over the next 5 years with a new build.