My original plan was to buy 15-20 properties with REI if things went well. 

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

We are looking into getting a fixer upper and plan to rent out our original residence ( Zillow says we can get $2700 median rent in our area ) while moving and fixing up the new house.

The plan is to use the heloc to purchase additional properties, and basically brrrr and pay back the balance - then repeat.What I didn't realize is how difficult it is to find a business heloc.  

Check with your lender about any owner-occupancy requirements tied to your mortgage.Market Analysis: If you plan to rent it out in the future, take a close look at rental market trends in your area.

a month on a 5 year plan.. 

My friend and I are planning to buy an investment property (My second his first).

And the interest on the HELOC is usually higher than on the mortgage.As I demonstrated before, you will get ahead if you would put that additional money directly into the mortgage principal instead of using a HELOC.Velocity banking is fine for people who can't budget as it give them a plan to follow and force them to save more.

That being said, I will preface this with the fact that I have a legal background, specifically with estate planning and asset protection as it relates to real estate.

Some parts of Trump 2016 tax plan.- Plan: 3 tax brackets.