At one point I talked to my financially advisor and he said that it would be smart for me to open a HELOC on the property, but not draw from it, except in the case of emergencies.  

If you have access to some money you can increase your equity in one jump.

Sometimes I'll tell a serious story or a not so serious one. 

One was evicted after about five months and three months of working with the tenant on rent delays, and the other walked away after about three months in the property and got behind for two months.

But assume you found a property they would allow you to do it on. 

I am currently working on my first BRRRR and while walking through the rehab I accidentally stepped in paint then onto my hard wood floors. 

It's a range and depends on the property type, location, end condition and rental strategy. 

It’s one of the few places where you can realistically achieve solid returns without needing a massive upfront investment.If you’re open to exploring other markets, Detroit might be worth considering.

2) You have one rental now, what's your goal of buying more?

They just bought it last year, so not much equity, still $760K on the mortgage.