I own my current primary residence & have about 140K in equity.

Recommend purchasing a primary residence first, ideally a home that needs work in an appreciating neighborhood.

My financial standing: Income - 130k W2 Credit Score: 690-710 (depending on when it's pulled)Debt: 330k VA Loan on primary residence, Car Loan $11k and no credit card or student loan debtCash: 30k Children/dependents: NoneI'm looking to be an out of state investor as my local market (Las Vegas, NV) is out of my price range and decided on Kokomo, Indiana to get a property around $100k-130k.

N.G. being the cheaper fuel for heating would be true for either of these suppliers. 

They require a place to live, which is why mid-term rentals are driven by necessity.The primary consumers are traveling nurses.

The only way I can access is money is through my primary residence and doing a HELOC.

I don’t intend to occupy the house as a primary residence but purchase the property as an investment property. 

Lenders typically require a resume for the GC involved in the borrower's project to assess their qualifications.When it comes to a GC getting funding for their own projects, while some lenders will take your experience as a GC or builder into consideration, most primarily look at your track record as a borrower on title when determining approval and pricing.That said, if a lender deems your experience sufficient, they may allow you to act as the primary GC on your own project instead of requiring you to hire a more experienced GC. 

I'm sure there are more FHA loan experts on the forum, but in general a borrower can only originate 1 FHA loan at a time since they are required to list the property as their primary residence and live in it for at least 1 year.

This is my primary residence and I've been there for 2y+ so there won't be Capital Gains on the sale.