Starting out strategy advice

[Jeffrey Soltau]

Been wanting to get into Real Estate investing for quite some time.  My preference is to buy and hold (rent).  I think I have the available finances to get started and would love any advice you can offer.

Here were my thoughts.

I have about 20k cash and was thinking of using that plus a HELOC on my current residence for another 45k to get started. Purchasing a property below 65k - rehab and renting it out long term. My wife and I then have ~$1000 disposable income/month that I could pay that property off very quickly. Then use the equity from the new property to purchase another, rinse and repeat.

The long term goal would be to generate about 10k/month of cash flow.

Is using a HELOC from my primary residence a risky proposition?

Are there other strategies that I could use?