@Tove Fox hope you find this copy & paste useful:)-------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I even try to unsell them on the business by sharing my financial losses, litigation,  market shifts, permit purgatory, shady contractors,  clouded title issues,  paranormal activity, squatters, mold, etc.

No company should treat it's customers and clients like that, not matter the situation a company is going through.

Quote from @Vince Scipione: Standard would be an FHA loan for your situation more than likely.

No Fraud.Thanks for your 'deep-dive' into Victor's situation. 

A HELOC felt like the right approach, but I'm learning it's pretty impossible to find a lender for my situation.

These are not situations where you will pay a price down the road like not pulling permits for a kitchen/bath remodel.

We're currently renting downtown and looking to get started as first-time home buyers in an owner-occupied duplex situation to start our path in rei. 

Hey there @Michael Labudzki - Can you help me understand your situation better...- Do you have 200-250k cash, or is that what you can get with your loan amount?

Loans like this can be useful or very dangerous, depending on how you manage your business.The ideal situation for a loan like this is when you have a property that will take a while to get up and running.