Grade my Funding Possibilites

[Cliff Rosa]

Getting into the whole game of real estate. Right now, I have about 10 months before I come home from Iraq and I plan to start investing in Real Estate. Going to try and learn as much as possible in the next year.

This is my situation. 20 y/o that owns his own home, never missed a payment on anything. No credit card debit, no car payment anymore. 25k in savings and I have a job. Currently my credit score is 735. By the time I get home I hope to have found that one really well priced home to buy and rehab.

My question is, how is it looking for me to get a loan? I would be comfortable with putting about 20k down on a 80k property and financing the rest. When I bought my home, my mortgage started about 2 months after I moved in. If I qualify for another loan, will I be able to have my mortgage start a month or two after I close? Say I put 20k down on the home, how likely would it be that I can get a equity line of credit as soon as possible, possibly the next day?