Tips include looking into the area, finding places growing, checking rent prices, and looking at loan choices.

@Eric FormillerSometimes it can help to decide where not to buy first then you'll have fewer choices of where to buy. 

If you're more conservative, you might want to increase your fixed income allocation.Income needs: If you plan to live off your investments in retirement, ensure your portfolio generates sufficient income to cover your expenses.Remember, this is a general guideline.

That is sufficient to handle normal usage, regardless of the brand of paper used. 

While Ohio and Texas are good options, Tampa's balance of affordability, growth potential, and rental demand make it a fantastic choice.

Leaning towards a home equity loan or refi as choices since I've been turn down for Helocs due to DTI ratio which i find strange.

Learn from a mentor and see if you can provide sweat equity in the area of your choice at first to learn in the field training.

Given the choice between cash now of say $500k, or REAL equity of $600k, I choose $600k equity as long as the $600k is greater on a RISK ADJUSTED BASIS.  

I've seen some posts arguing about design and color scheme choices that are in and out of style in rehabs and flips so I figured I would give my first hand advice.

You're in the right place to begin with, but the choice is yours.