I would say Dallas is a solid place to start right now.4) Once I've lived in the property for the obligatory year, is that typically long enough to refinance and use HELOC towards my next property? 

Most long-term lenders will use an AMC to select the appraiser.

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

I know of some folks in KC and Memphis doing new builds like this, but they are doing it within a much larger and long-term project that includes upwards of 300-500 units built over the course of 5-10 years.Assuming you're looking in Columbia, do you have a "B+/C" neighborhood in mind?

We have long terms holds in Shasta and Tehama county.

I don't ever stiff the housekeeper and if this was a long term tenant who needed to break early I would do it but probably not in this case, again unless regs require or mom presents a more compelling case. 

I wouldnt, so long as you have your requirements laid out - they should be able to know if it is even worth applying.

Prices seem very high and build times very long.  

--------------------------------------Context:-My wife and I file taxes jointly and own 4 long term rentals in NJ and 3 rentals in FL (1 long term, 2 short/medium term).

This is a significant down side to me as a long term investor as it basically wipes out your cash flow.