(I’d probably try to buy from the multi-member LLC to show the IRS I’m a new owner who hasn’t used the property a a rental before making it my primary to preserve 100% tax free status in the future.

In the future, consider getting permission in writing via text or email.Most people don't care, and the pictures usually aren't detailed enough for a viewer to see anything personal like documents, family photos, etc.

That said, I don't know your full game plan for the future.

You can access the equity via a few different ways to purchase your next property (cash out refi / HELOC / etc.) and since you'll be doing everything by the book and all of your tenants will have leases, you can use those to help with your DTI (debt to income) for future purchases.There's a lot there.

(I would expect that the tenants would all come in as a group for friends - it is only 1,600 sf after all. 

Definitely a keeper for some future cash flow.

You can expect a different experience at rents of $2500-$3500 than $1500-2500. 

Or are you expecting garage rents to rise as the area appreciates?

I want to use this equity for a down payment on future value-add projects.  

Best regards,Matt  If you plan to move back into the property in the not too distant future you might hold out to do a home equity loan or line of credit as an owner occupant so that you get decent terms and a workable LTV max.