Liz - is the property  an investment property or is it a primary residence Do you need any funds  from this  equity now ….if not  - I wopuld recommend the HELOC  ...if property is an investment  property and if you want to ge the heloc in the LLCs name - you will likely find that there are not many lenders that  will be willing / able to  help with this  request

I feel that long term rentals using the BRRRR Strategy should be my primary method.

Our primary residence I bought before we were married and its in my name.

Then at a later date if you wanted to move into one or the other converting part of the new 1031 property into a new primary residence.  

@Andrew Taylor As @Mike Verna says, the thing about the smaller units is that there are many more of them on the STR platforms, so there is a lot of competition.

I purchased my primary home 3 years ago and don’t want to move.

I am currently trying to obtain a HELOC on my primary residence.

The last instance where you can have two FHA loans simultaneously is if you co-borrow with a family member for a loan, but you also have your own primary residence property.So, my question is: If I have a baby, can I qualify for another FHA loan while keeping the first FHA loan?

@Andrew Major my primary focus at this time is note investing and I invest in several states across the nation 

I libe near Philadelphia with a very Full-time job and two kids I have a 200k line approved on my primary home ( it’s worth 450 easily and I own it outright at the moment)I’ve been to a few REIA meetups and met some local wholesalers and brokers, etc.