He bought the place several years ago for $500K and has an additional $150k HELOC on it that may or may not have a balance. 

My broker has provided additional training coming on board, as well as providing me with a mentor.

We are past all that now and are excited/delighted about our #3 addition to the family however it has put a pause on all the above since we feel we should hold onto the cash for security and any unexpected stuff that may come up.

Another option that I was considering was adding an additional bedroom to each unit (possibly a bathroom as well).

Account Closed Many apartment owners have cell towers on their properties which allows them to collect additional income.

I am looking to raise some funds for additional rehab costs or JV with another investor/builder to get this gem moving. 

@Russell Brazil That’s interesting law there, if I interpreted that correctly.How about an example where, after inspection, the buyers communicates:“We have found additional blah blah blah, if the seller is willing to reduce the price by $5k we will continue with the contract.  

When I'm in a SFR, I house hack by renting out the additional rooms (albeit I'm single). 

I am looking into converting the garage into an ADU and rent it out for additional income.

You can take participant loans from the 401k, you don't need the additional expense and administration of an LLC to have checkbook control, and there is a built in-Roth component if you'd like to make tax-free investments.