I only ask because I have yet to ever go through a refinance, or a HELOC, so Im not sure of the time lines they take, or if theres rules that prevents one from another etc etc.

None of them by themselves are generally adequate for fully protect you, but when used correctly it is a nightmare that prevents law suits from even occurring.You can still have access to great financing within an LLC, but it requires additional steps to accomplish it.

Can you all provide some useful tips before I spend monies on unnecessary items.

I did find that it makes it easier keep everything that the current seller has in place, including insurance, to prevent flags from going up at the bank.  

Does anyone know if a condo association (6 unit building) can pass rental restrictions that prevent you from renting?

I am asking the following question for a family member and want to give them advice:They are living in a poor condition older home and the AC has been broken for months and they also have water leaking in the basement to the point that they have coolers collecting the water to prevent it from soaking everything.  

This is to ensure we know who is residing in our units (all adults have credit and criminal checks) but also to prevent sublease for STR (or LTR).

Does having no money prevent me from some types of loans?

There's nothing better than "proactiveness" when it comes down to Real Estate; we all agree that prevention is much better than cure aka "an ounce of prevention is worth a pound of cure".

It just seems like an extra unnecessary step since the income flows directly to you through the LLCs.