The other piece here is that I become less concerned with fuel costs when it comes to setting rent, so if fuel costs do increase, the tenant can elect to turn their thermostat down, take shorter showers, etc to defray the costs (much like when I tell my wife to go grab a sweatshirt in the middle of January, versus turning the heat up to 70).

He did it on budget, and 1 week shorter than promised.

HELOC's typically have floating rates or fixed rates for much shorter than a 30 year term.Closing with cash (or money from a HELOC) and then refinancing later (pre-or post 6 months), will result in less closing costs than closing with a loan and then refinancing later.  

@Micah Copeland Absolutely would go for a higher cap rate in a more difficult area.  1/1 and 2/1 are also likely to attract a shorter term tenant than larger units so keep turnover in mind.  

I would not do a shorter stay.

Are portfolio loans with lower rates and shorter balloon terms really more attractive then paying a higher interest rate and longer terms...... is the question we have been asking ourselves in our partnerships??

Loan terms are shorter also. 

Due to the fact that I don't have too much money, I wanted to ask of the idea of well.... getting a RE license if it can help me in terms of shorter-term real estate investment strategies (mainly Wholesaling) I am in Washington State by the way.

.* I've heard there are other lenders who will provide short term loans that are amortized over 30yrs, but due in a shorter period of time with a big balloon payment.  

The shorter time it has been listed, the less they will take off list price.