Line of credit in California?

[Jared Whitfield]

Hello all, For a little over a year now Ive been trying to get as much info on flipping and inventing in real estate as possible. For the longest time having enough savings for down payments was my biggest obstacle. Ive now saved up 10k and was thinking of taking a HELOC which could be around 40-50k. Is this something that anyone has experience with and is it a fairly decent way to get into REI? Also assuming I go the route above, would a conventional loan be the best way to do this? Another assuming question is, if all goes right, which is usually the plan but typically not the outcome, is the profit all subject to tax even if its partially used to pay yhe HELOC? thank you in advance