We saw huge appreciation in the 2018-2022 inflation run up, but that has significantly slowed these days in my opinion.From a rental perspective your monthly income per unit after all expenses with a typical 20% down payment is likely $100-300 when you find a property that will cash flow.

The total cost for this monthly for me is $1.00 fee for online payment for Sevier County, TN and the .73 cent stamp for Blount County, TN.

Also we felt we were going to make more self managing than with the payments they were offering.

How will the partnership cash flow cover the HELOC payments if interest rates increase?

As long as the rents can cover both the current PITI and proposed P&I payment, credit is at least 680. you should be able to qualify. 

By house hacking, you're immediately positioned as a landlord, which will adequately pressure you to learn how to structure your leases, screen applications, collect rental payments, resolve the nuances of managing tenants and addressing property issues, etc.

I have the opportunity to help a family member be part of a joint venture with them putting the down payment down.  

Quote from @Brad Roche: The other thing that is great for the FHA 203K loan (not sure about the Homestyle loan) is that you can kick the payments out to 6 months of ownership (so close today and make your first payment July 12th 2025) if you are fixing up the home.

In this case, your monthly payment with 20% down will have a good MARKET rate if your DTI works with a much lower month payment and no mortgage insurance(MI).

Terms such as interest rates and payment schedules are typically negotiable.Combining creative financing with seller financing can include strategies like:Subject-to and Seller Financing: Taking over the seller's mortgage and financing the equity portion through the seller.Lease Option: Renting with an option to buy while negotiating seller financing for part of the purchase.Wraparound Mortgage: Keeping the seller's existing loan while they finance a new loan that includes the balance.To proceed, consider connecting with experienced investors, understanding local legal implications, and attending networking events to gather insights.