My goal is simple: once we secure a deal, I buy directly from the seller with cash, and you earn a fee.Are these kinds of arrangements common?

In his masterclass he lays down exactly when and how an investor should start protecting his assets.As for networking and local mentors, I guess that’s up to you, but I don’t see how someone who worths millions would with a simple dinner sit down with you and teach you unless you have some other sort of value to offer him/her with your services or got similar experience with him/her. 

This is not a simple question.

Very simple.

The line of credit would give full access to your equity instantly and you would only pay simple interest on the amount borrowed at any given time.

You can usually also benefit more by simply using the seller or builder credit to do a simple "Rate buydown".The first rate on the buydown is a "teaser" rate that only last for a short time 1 year for example but a true rate buy down is for the entire term. 

Simple, connect with those that provide rentals to OOS investors.

You were made aware of undesirable conditions and made immediate attempts to address the problem through a capitol improvement not just a simple repair.

A simple DSCR (rent/PITIA) calculation can be an easy way to evaluate the property if you are doing that type of loan.

Make it simple on yourself.