An extra 2 hours a day would be optimal, though.For hands-off, you're best house hacking... buy a multifamily, live in one side and rent out the others.

But you would be converting passive income to self employed income which as a general rule isn't smart/optimal, but there are scenarios which may make sense. 

The optimal answer depends on many factors.What is the purchase price?

If you like to get nerdy with analytics then you'll likely find that you are more optimized with the HELOC versus cash,  but that's really not super important at this stage. 

A RE investor himself so he knows what to look out for and make recommendations to optimize your returns.

Pricing your property below market doesn't mean you are stupid, it means you will potentially bring in less money than might be possible under optimal conditions.

So the optimal income path from an investment perspective is, what sort of a job will get you into the highest possible pay early on for the least amount of education or certification or credentialing investment? 

The best and most optimal path forward will essentially be dictated by their wishes, and should take into consideration asset protection, income taxes and estate/gift taxes.

While the market has been extra hot,  I think that's a bit of a nationwide issue and not just this market.Note that this needs to be very well managed with rate optimization dialed in tight. 

Can you offer any advice to optimize my financing situation and is there something I should be doing differently with my strategy?