My tenants are contractors, those guys you see working on the large upright structures of steel at a petrochemical refinery. 

I'm looking for advice on the best way to build the funds necessary for a decent down payment, as I don't have a ton of money saved up right now.Also, I'd like opinions on whether it could make sense to get an FHA Loan to begin building equity to borrow against?

The guys that work on those large upright rigid structures of steel at a refinery.

If you did that, my guess is you'd end up right back in debt within a year because you're not addressing the underlying problem (poor money management & living beyond your means). 

I work right off 44th St / McDowell so I know the area and McDowell is still a little sketchy, the prices aren't quite into the 300s there yet.I ran some rental comps also and I think $1900 may be a little high, although rents are going up right now.

I don’t have the money to pay a lawyer to draw something up right now.I’m especially concerned about protecting this asset as the local newspaper published my name address and purchase amount so now anyone who is looking to slip and fall knows where to go. 

Also, if it doesn't appraise for what you think it would maybe you wait on getting the Heloc.I would also caution you on looking to leverage up right now. 

There can be specific circumstances that influence the entities used to perform transfers like this, so it would be important to find an attorney who know how to set it up right.

I don’t have much saved up right now but I will have a lil more once get out in a year.

Thank you I'll download meet up right now hope to see you guys soon