Both FNMA and FHLMC permit this, under the following circumstances: Notes: For all such transfers affecting mortgage loans purchased or securitized by Fannie Mae on or after June 1, 2016, the transferee is not required to occupy the propertya limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.Citation: D1-4.1-02: Allowable Exemptions Due to the Type of Transfer (04/13/2022)Now, you will still have the Note and reporting in your name individually and will still be personally responsible for the mortgage and most likely, the manner of transfer will enable any litigant to pierce the veil of your LLC, but you'll have what you wanted, for whatever reason. 

I am doing anything I can to build capital so we can get into our own first property.Thanks!

A HELOC would be based on your primary or investment property you currently own.

Can some of the members of an LLC do their own exchange or cash out at the time of the sale of the property?

I live in Southern California where I own a couple of investment properties; now I'm interested on starting to invest in Arizona.

Does anyone own or have specific experience in this market? 

I came to find out later they are all owned by the same company. 

Also if I pay capital gains would my tax rate be lower since by the time it sells I will have owned the lot for over a year? 

It's an REO (real-estate owned).

I did my own due diligence on the firm and based upon that was comfortable investing a small amount into a deal to try them out.