We run a Real Estate Notes Show where we speak with many of these types of investors teaching them different strategies. 

However, the best strategy is to prioritize strong fundamentals over proximity.

Also, have you considered a specific investment strategy (e.g. rentals, fix & flips)?

To the point where there was very little partnership or strategy alignment, and their advisors were ignoring our request for our 30 minutes in their email responses. 

Two, you'll have a much easier time obtaining a mortgage product if you have a track record of W2 income.In the meantime, continue implementing the strategies you mentioned: save religiously, build your credit, pay any existing debt owed, etc.

My question is why you want to bring it up to code, other than just to feel good or improve your exit strategy?

If you are considering buying using Subject To - Subto, it's important to know what your exit strategy is.Talk to a mortgage broker (not a bank) and ask if that is a property you will be able to get financing on in the event you have to refinance quickly, because the Due On Sale clause was called.AndTalk to a real estate agent about how much you would have to bring to closing in the event you had to sell quickly.

If you acquire one new property each year, you could significantly increase your wealth and potentially position yourself to qualify for larger investments, like apartment buildings or construction loans, within 10 years.I’ve worked with clients who have successfully implemented this strategy, and it has proven to be an effective path to building long-term financial freedom through real estate.Good luck with your decision!

What do you guys think about this strategy of opening up a HELOC in hopes of freeing up some of my other capital.  

It will give you a 30,000 feet view of real estate investing as a whole for different strategies and will allow you to find new ideas and to explore and see what works for you!