Getting into it with capital on hand advice

[Mike Minigell]

Hello all, first post here. 

I have read a few books from here and talked to a few folks around.  I am currently an active duty Marine and will be transitioning out within the next few years. I would like to purchase my first property this year and start working on ultimately a few properties residential or commercial. 

 My situation, I currently own a house in SoCal purchased in 2022 for 1.59m. I owe nothing on the house as I had purchased it cash (before you ask, I was in a very fortunate position). Owning the house outright gives me some flexibility for my next purchase. I currently "house hack", living in one of the bedrooms, and renting out 2 of the other rooms. I have a baby on the way and eventually would like to move out of SoCal in 2025. 

If you were me in my position, where would you start this journey? I have explored options into a HELOC. The idea is purchasing a property with the line of credit, and then repairing it to renting standards in an up-and-coming area (possibly Atlanta) over 6 months. Since I am not in immediate need of cash flow, I have some flexibility there.

I appreciate your time reading this and any useful insight you may have!

Mike