Advice on Turnkey investing

[Eric Crosby]

Hello all, I'm looking for some advice on Turnkey investing for a rental property. I was thinking about taking a HELOC on my primary residence to find the investment. Currently we have about $250k in equity. I was looking at properties in the mid-west around 100k. I do not have much saved in my savings account, about 4k. Most of my savings is tied to my 401k. Approximately 200k. My wife and I currently make about 175k/ year before taxes and other deductions. Would taking out 100k to buy a property and own it outright be a good strategy if we could be cash flow positive from the get go? I typically don't like to add additional debt tied to our primary residence.