Do you currently have enough funds to pay first month’s rent and a security deposit?

If you're capable of getting funding from a bank, those terms are terrible.

Another question that I haven't yet heard the answer to: Do local governments ever run out of HCV funds? 

Another 74k in index funds and 10k cash.

Now your fully renovated home is getting top dollar rents, you could probably refinance too since rates are poised to go lower (lowering your monthly obligation), you could open a HELOC before you move with the extra equity and use that to fund your next deal and now you have 2 homes! 

Use the HELOC funds for another investment strategy such as funding fix and flip projects.

When you have the funds available and you find a deal that works, that is the right time.With the new investors that I work with the biggest step is saying yes when you are ready.  

Here are some thoughts on effectively managing these relationships to ensure all three stakeholders feel valued and respected.Stewardship of Owner FundsProperty owners entrust PMs with one of their most valuable assets, and being good stewards of their funds is paramount.

Kyle, you can fund an entire acquisition with OPM (other people's money).

They have a system, team, and their own contracts, and also provide proof funds, even the EMD.