The smart combination of buying at a discount, adding value, and then using leverage once the asset is performing to pull equity and launch the next project is just a very good formula when executed well.Be sure to start by reaching out to non-recourse lenders to learn about their programs. 

Has anyone successfully executed a HELOC or home equity loan for an LLC property?

@Dustin AllenYeah, this part in the contract confused me a little bit: "...proceeding 30-day period from the execution of this Contract...".

This, right here, is why I got out of Pittsburgh proper.

Hire an attorney to do it properly before you lose everything to bad wording in the contract that you got for free online.

Give proper notice and proceed.

2) If the answer to 1) is Yes, can you advice the seller what's the proper way to do this - contact the agent first to let her know he wants to sell the house himself and wants to be out?

If the infrastructive isn't properly maintained, one major repair could easily eat the small cash flow that may exist. 

I maintain the properties, have any maintenance requests timely and properly performed, didn't raise any rents in 2020 or 2021 due to Covid, but gifts for the tenants? 

I agree with Matthew - real lenders should have a company driven email or at least the proper signature with the company logo and license number.