@Iryna Deodato I agree with Account Closed that you definitely do not want to be using a US LLC to run your real estate investments.

This undermines the majority of Realtors using a service that we pay for!

I'm going to start using a property manager for this unit from here on out, so I'm hoping I will be able to learn from simply seeing what forms they routinely use for different situations.

Just realize you are not properly calculating or using a cap rate properly.

The idea is you pay yourself back and save part of the interest cost you would have paid by using a bank.  

We are using a HELOC since our house is paid for to tap into our equity.We are looking into house flipping right now in the Dallas area (where I've lived all my life).

HUD SFR 3 br 1 ba house listed for $73kBid accepted price is $67k all in with closing.Paying "cash" using a 4% fixed HELOC I have on a separate property I own outright (current residence).Potential Rents are conservatively $950 a month.Property needs $8-10k in repairs.ARV: $95-100kThe good news:   My Bid got accepted and all my financing is already lined up.  

I am thinking of trying to get a triplex at my next location but with the possibility of moving I am perfectly fine with getting a property that is a few hours away from me and using a property manager. 

There are so many reasons the owner may want to sell both properties:The properties may be on the same noteThe owner may be using a 1031 exchange strategyThe owner may just want to liquidate all @ once rather than spread it out w/ multiple transactions.  

Yes, we're using a contractor we've been using the last 6 months or so.