Even if getting the permits winds up costing $30K, to me... it still seems worth it.Does anyone have any experience with something like this?

@Shawn McCormick is local to the area and can share some of his experiences. 

@Keith AngellFrom my experience, both a HELOC and refinancing have their advantages depending on your goals.

I was wondering if anyone here has purchased properties from him before and what were their experience? 

I know a lot about the industry through my education, but have very little/no practical experience when it comes to managing investment properties. 

My piece of advice would be to make sure you have a great agent in your corner to help you assess the market, make informed decisions, etc. having a good agent can be day & nights difference when it comes to your experience.

From my experience, this is a very seasonal market.

Talking DOM is a 'blah, blah, blah' experience with landlords. 

How's your experience with FF? 

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.