The rates will be much lower than a HELOC and the leverage is also higher.

They have better rates and we are ok buying in our personal name for a single family.

My plan is to take the $800,000 equity I now have in my two unit building, wait until rates drop in the future and borrow against it to purchase a few other properties.

I rely heavily on the cleaners ratings.

Do I take money out of my homes equities and buy more rental properties that way and just bite the bullet on the cost of a HELOC interest rate.2.

I'd rather go with a conventional loan to get a lower rate and fee.

Amazingly, the bank holding the underlying note AGREED to allow the wrap as long as our LLC remained on the note, with NO change in interest rate or terms!.

Then you could buy now before competition becomes crazy again and refinance when rates come down.

If you have not contributed post-tax dollars into a traditional IRA, the total amount converted is taxed at your normal income tax rate and the Pro-Rata rule does not apply, but in this case you mentioned you have an IRA so I'm sure it does. 

Regarding "One major downside is most HELOCs are adjustable rate, and I'm certain rates will be increasing even more in the near future, so finding a bank that has a rate-lock option is my hedge."