Recently returned to the Cleveland area after a number of years away, bought one small MF property and am currently shopping for another, hoping to build a portfolio over the next several years.  

Welcome @Tony Starks what are some of the relationships you are hoping to build?

Hope this helps!

Hoping to get an idea before appointment with CPA.Thank you.

I'm hoping that someone in construction will buy it so they can work on it themselves and save money. 

Hopefully you understood the laws when you purchased, and depicted the rent control in your underwriting.  

I was hoping to use a HELOC toward the purchase of a foreclosure.

Thank you in advance and hope to hear from you soon!

So, to operate your LLC's correclty, you need to prepare multiple 1099's in my layman's opinion.Since you are going down the LLC track, I hope you get better at their operation.  

There're still lot of places that doesnt receive lot of supply of MF and with cap rate above 6 and DSCR above 1.6 hopefully they can survive.