I'm thinking about offering an owners' rep service for folks who want to invest from out of state but want an independent opinion from their broker. 

Even if you can only add an additional $50/month you will get a larger tenant pool to choose from with the W/D in the unit.

Affordability: Compared to coastal markets, Midwest properties offer significantly lower entry costs, allowing investors to acquire more units or higher-quality assets for their capital.2.

From a negotiating standpoint, you could use the heloc to make a "cash offer" with no financing contingency and still get a mortgage during the process as long as your closing timeline provides the time to do this.

Most lenders will offer up to 75% of the new ARV.

Make the offer very attractive and chat with a bunch of lenders until you find one that speaks investment properties. 

A bank does not offer a 30 year fixed conventional loan for a 12 unit commercial purchase.

I will ideally find a home that doesn't require a loan and if I need to put an additional $100k I can with cash I have on hand.

I've been looking at some of the online lenders (Better, Figure, Rocket Mortgage, etc) and while they offer a decent product, perhaps there is a lender who is local to Indiana that would offer a HELOC with better terms? 

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.