Plan of attack

[Matthew Fragassi]

I wanted to get some advice on my plan to start investing, to see if it's viable or not. 

I am going to purchase a property and fix it up using loans from family, to use it as a rental property. From there I planned on using that property to take out a HELOC (as the bank would see that I own the property not knowing I owe money on it to family) and use that as a down payment on a second property and to use some money for fixing that up as well. And keep that plan rolling forward to bigger and better properties.

I kind of see it as my family loaning me money for TWO rental properties, not just one. 

Pros/cons and any advice would be greatly appreciated. 

Warmest regards,

Matthew Fragassi