Cash vs. HELOC to purchase 1st rental in Omaha

[John Anderson]

I'm a new investor in the Omaha area and am currently looking at investing in a SFH around 100,000. I currently have approx 100,000+ in cash and own my own home (150,000) outright. I'm considering financing a rental with either a HELOC or buying with cash, rehabbing and refinancing as soon as possible to free up the cash invested and buy another. Does anyone in the Omaha area have any advice or experience with financing in this way? Do I have to wait 6 mos to a year before a bank will refinance? Any difficulty with appraisals being lower than expected in the Omaha area? Any advice?? Thanks in advance!!

John