We’ve done everything from rim joist, main water lines, all new plumbing.

Eventually after 5 years or so I will rent both units out with the main unit bringing in 1800 currently in rent to total 2450. 

My main concern about keeping HELOC funds sitting in a property is the interest rate is variable and your putting cash flow at risk.  

Work on your credit and build a little net worth, this will help you look more attractive to potential investors and banks.

Would it make sense to utilize the equity in the home toMove forward for purchasing our first investment or should we leave our main property’s equity alone?

You can open up a UPS mailbox and use that as your LLC's main mailing address. 

This is actually one of the main points in the sale speech of many SDIRA custodians and administrators.

I looked into them mainly because I had a pretty sizeable IRA balance, but not much 'cash' to invest so I saw it as the 'logical' way to invest in real estate. 

My main goal from REI is to be build a large enough RE portfolio, while finishing my military career, for my wife and I to become financially independent allowing us to focus solely on REI after my retirement.

I'm looking for a local agent with a keen sense of what rehab is needed in the area to attract buyers, while keeping it economical.