I'm trying to decide whether it would be better to pull some money out of my 401K or to get a HELOC to start investing.

Notes are an area that experience alone will NOT teach you what you should know, especially if you start learning from another under educated investor/dealer who spends all their time trying to pull deals.

If you are local you might pull it off, otherwise forget it.

Anything you can recommend to gently help them realize they're expecting too high of a price for their houses?

4) Credit pull- is a soft pull. it does not affect your credit score.I could go on and on and on.

I decided to pull in a group of friends (none of us have a whole lot of money individually, but together we have more than enough money to get started.)Something we're taking into serious consideration is the option to create an LLC to use as a means of acquiring property.1) Is this a good idea?

I was able to pull all my original money out and a little extra.

Deciding if you want to keep the money here and 1031 down the road or pull It out and move the currency back to your country makes a difference.

WHY are you getting pulls on credit without an accepted property under contract??

You could pull the comps to show him the retail value, but if I were you I wouldn't even pay retail value for it.