Best way to go about financing.

[Ben Kuppi]

I'm just getting started and need some advice... I'm looking to doing my first flip and my thought is to use my FHA to purchase the property and then either use a line of credit for repairs or partner with a contractor to cover the repair cost and manage all repairs(then use a 60/40 split on profit). Part of my hold-up is I'm thinking toward fix and flip because of the quicker return, but in reality I'd like to build a cash flow portfolio also. I just don't know how I could do that with the money tied up in the initial mortgaged deal. Is there a good strategy where I could keep the property as a rental, but still get the money back to invest in more property. How do people get(and hold) multiple rentals without already having a bunch of capital themselves? Any and all input is greatly appreciated! Thanks!