For example, more downpayment means less interest rate regardless or whatever loan.I am trying to see what sort of action I can take right now so I can plan detailed and measured steps to my goal.

@Jacob AndersonI've only used my HELOC for investing when I have a quick exit plan.

So don't let someone discourage you because their investing criteria is different than yours.As far as financing goes, there are options for financing if you have a plan for the property.  

Where do you plan to invest?  

Speaking with a lender is a good plan, they can help you plan for the future.  

I’ve also thought of plans for a smaller scale venue too.

Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment? 

It was a plan we came up with ourselves (no Internet back then) and it worked for us.

I would imagine most attorneys located around the MA, NH border area plan to make more than $200,000 per year.

So their plan is follow Hawaii’s “protect the homeowners plan:  how did that work out?