Any help/advice on what kind of financing to go for (FHA/conventional/first time home buyer benefits) and any insight on how best to do this with a partner would be greatly appreciated.

I have to slow down and really analyze the cost vs. benefit before jumping in.My personal life is the same.

So many benefits to buy and hold.

There are many other benefits from these Communities as well - you will find like-minded people who are interested in building wealth through real estate the same way you are. 

They do have a monthly fee that tenants now pay to have tenant insurance and a couple other benefits.

But in a rooming house, they pay a much lower rent cost, and get the benefit of a professional cleaning crew doing common areas, kitchens and bathrooms, free high-speed Wi-Fi for their streaming devices, etc.

Most people enter partnerships because of FEAR, or want of COMPANIONSHIP not any real benefit.  

Hi all,Feel like I have this one kind of sorted out but I just wanted to run it by some people who may know better than myself.The plan is to pull out a HELOC to help subsidize a downpayment on my next rental property...

For example:- "1 time $129 non-refundable set up fee paid at lease signing"- "non-refundable pet fee of $200-500 per animal applies to all pets & must be paid prior to or when you pay your first month rent"- "$30/month required resident benefit package" Just my two cents.

Once you transition one of the homes into a full time rental you will reap that benefit by filing a schedule E at the end of the year.There are a few loopholes to consider like calling one home a "Vacation/Second home" which allows you to pull out 80% LTV with a better rate.