I learned the hard lesson about taxes (fed, stat, recapture) on the 1st one sold, will not make that mistake again.

Thank you all for taking the time to share your experiences!

If you have a contractor come out to take a look too soon, they may quote you things that don't necessarily need repair.

Anyway I’m here to take action and get my second third fourth deal and help anyone operation that may have the helpful spirit to lead me in the right direction to get started !!

As someone who does this, we actually take really good care of the property because it needs to be in top shape for the corporate client.They usually pay a premium to market rent too.

A successful BRRRR without the tailwind of market appreciation during the renovation period is really, really hard unless you have cash to buy a place that does not qualify for conventional financing, ways to source off market deals with some real issues that you don't mind taking on, and/or access to a crew or cheap labor (could be DIY).

Would also take Lawyer referral too if you have one.

My question is, could we take out the HELOC and then use that to move to a new primary residence and keep our current home as the investment property?

but once you close, it's all on you - no one is taking responsibility for anything. 

Thank you to anyone who takes the time to respond.