I would like to meet and work under an experienced investor who concentrates in rental properties to gain some experience before buying my first rental property. 

Your plans will begin to materialize as you gain clarity through knowledge.All the best to you!

One of my life philosophies is that "Givers Gain and Takers Lose" When you enter a deal as a giver and the other side sees that, they are more inclined to be a giver too.  

I'm looking to  gain as much knowledge & friendly advice as possible in real estate investing.

My question is should I sell now ( subject to short term capital gains, self employment taxes) or rent out and sell after the one year hold ( subject to long term capital gains) ?

Question: would the capital gains tax be calculated individually after the profits are disbursed, or do I have to process that prior to disbursement and subtract out the estimated tab amount?

The owners are my parents which is why they would even entertain a silly idea like this.)My question is:  What are the steps my company would need to take to gain access to this HELOC?

However, I want to start wholesaling to gain some cash.

Since it is your primary residence and you have lived there for most two years without renting it you will not have to pay any capital gains.  

There is no cap, or rule, or extra tax for posting a large gain in your IRA.