Explain the potential tax advantage of spreading the seller carry portion of cap gains over additional years to reduce tax exposure in 1 single year plus the interest of course!

Their CPA says they will pay cap gains when the Corp sells, then they will pay income tax on the distribution, resulting it over 50% of sale proceeds going to Uncle Sam.

You can use their sold filter and use the draw feature to hone in on specific neighborhoods!

My initial thought was to use the equity to expand my FL portfolio and upgrade some features on the current house in IN.

Extra features are always a plus.

For sure, I know most helocs are adjustable but they also have a cap too, so if the cap is around the same as the heloan to me it seems like a no brainer in favor of the heloc.

This is a great forum with very knowledgeable members that will help to guide you in the right direction.I really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alertsThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

REP would come into play if you have losses - expensing items creates a larger net loss and REPs losses aren't capped at passive activity income.

This particular property provided a relatively higher cap-rate, competitive price/sf, is well maintained and newer construction, has full tenancy with NNN leases, and is situated in a rapidly growing area.

I really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alertsThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides