There is always risk, and these are highly risky and regulated techniques.

@Roger D Jones Good tip, thank you.

If you haven’t already, I’d scope out the municipalities around town.. from what I read in The Economist, the Phoenix metropo area continues to rank high for job growth, which usually bodes well for new builds.

Normal mortgage rates are in the high 6's now, for a personal residence, and higher for an investment property. 

The market in Racine is much different than Kenosha and we have been having a hard time getting quality tenant applicants.

While most of the people are pretty good and probably have a thankless job, there are definitely some with the good ole boy network and very political. 

Highly recommend you DM @Samuel Eddinger and buy him lunch to pick his brain!

Is a HELOC a good idea for buying a property?

It's a good idea to set expectations early to avoid disagreements later.

I am also self-employed and have a good amount of time to work on this.Now I need a house.