30 year old trying to position into full-time real estate

[Forrest Faulconer]

First off, thanks for taking the time to read my post! I am in the process of making some real estate moves, but I am getting a little overwhelmed by my options and a little unsure which path will be best for myself and family. The ultimate goal is to build enough passive income to not be reliant on my 9-5, to gain more flexibility and control in my career, and to be able to leave behind assets for my wife, daughter, and future kids.

In short:
1.) I work full-time as an engineer but am studying to get my real estate license soon. I would be willing to jump into real estate brokerage full-time, but am afraid leaving my current industry will make it difficult for me to get many conventional loans for two years. Therefore, I am not sure if I should wait and continue to stay in my job until I get things rolling, this will limit my time and flexibility which could go towards rehabbing/flipping, but my income will be steady and I will be more bankable.

2. I have roughly 100-120k in equity on my house here, it's halfway through a 15 year note and cash flows about $400 rent minus mortgage. I was informed by a couple banks that in order for me to get a HELOC on it without refinancing, it needs to be my primary home, at least until I get the credit line in place. So it looks like I may need to move back in there instead of buying something else such as a house-hack or fixer-upper. I am not opposed to moving in there, but it feels like I could maybe seize a better opportunity.

3. I was planning on getting the HELOC to have "cash" to put towards investment properties, as a down payment and for rehab cots. Is this a pretty common strategy and one that would be good for my situation? I am capable of doing a lot of rehabbing myself, but will limited with time if I am still working full-time.

So I am trying to figure out if I move back into my primary and get a HELOC, then look for investment properties from there. Or, continue to rent it and look for another opportunity and see if I can pull some equity out of the house without having to refinance. Then, do I stay at my job so I can be more bankable, or do I jump to real estate brokerage and commit to real estate from every aspect and figure out the lending options after.

[Will Fraser]

If at some point it becomes possible or prudent to do all of the above, I'd recommend it :)