HELOC for first deal: buy MFH cash or do 20% on nicer MFH?

[Michael Wilson]

Hi! I'm 25 and about to graduate from college in a few weeks and will have much more free time to invest. I have a pretty good job right now and would rather pursue REI than mechanical engineering.

I own a home (still owe $100,000). I bought it at 127 4 years ago and put work into it since. I.E. I believe I'll be able to obtain a HELOC plus I have a little bit of cash squirreled away.

Question is, do I buy a place outright in cash that needs a moderate amount of work in an area that is to some, up and coming, but to others is not very nice OR do I put a 20% down payment on a nicer MFH with more units and put some sweat equity in (I’m really handy)

Minus all of the nuances of investing, my concern mainly lies with, am I setting the bar too low by playing it safe by not getting a mortgage on a place? Should I start small to get some experience and knowledge first?

I’m 100% going to invest this summer. It IS my goal but where to start..