I will also be creating a property management company (based in NJ as well) to manage the LLC's property.

Quote from @Cheng Zhong: Ocklahawa's appreciation is slow, and it's a choice you need to make based on your own needs, and I personally don't recommend you do that if you're buying an investment at this stageThank you for the response!

They are incorrect and if you follow their advice, be sure to hit them up for the fee when the lender charges you.

Since this was your primary residence 2 of the last 5 years you would be exempt from taxes on a sale up to $250k in profit ($500k if married filing jointly).

As a result I'm writing up a quick blog right now on the topic. 

I am based out of Broward & Miami-Dade county, so any additional advice specific to them would also be appreciated!

Previous owner lived in home up until death, now children are basically saying home belongs to them. 

However, I haven't found a good source for quick estimates based on the size of the project, year of build, etc., specific to our market.

It’s not some scheme made up by a so-called guru.

As far as tapping into the equity without doing a refinance, we offer some great HELOC products which are especially good for funding short term deals like ground up constructions or fix and flips.