Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

However, I'm short on cash (will be putting $20k of my personal money into this)  and I am exploring creative ways to source funds for the project.I’ve been quoted for a $100K HELOC on my primary residence with a 30/1m ARM at a 13.25% rate and APR, with an interest-only monthly payment of $1,016 and $3,825 in points.

The vast majority of contractors won't want to give bids on properties while under contract unless they have a relationship with that person from prior jobs.

I highly suggest as many in-person networking events as possible! 

Also, the transunion credit and background check is almost $50 per person.

We have done it both ways where we fund purchase and they cover rehab but if the individual is less experienced we do not do it that way, we have them put more money into the deal from the start and fund the draws, reason why is we also had a deal where the person said they would do this and never did anything and property sat and loan matured and it was a pain.Just recognize you will still not get 100% financing for the purchase, so you are putting money in up front. 

No Personal Use: You or family members cannot live in or personally use the property.2.

The absence of a personal guarantee from any disqualified persons is still required, just as with third-party financing.

A new person moves in and she says the upstairs neighbors are creating a ton of noise.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.