Maintain your credit and bank balances.

I personally work in the Columbus, Oh market because my research lead to this market.Build a Local Team:Find reliable local professionals such as real estate agents, property managers, contractors, and attorneys who are familiar with the market.Network with local investors and attend real estate meetups to get referrals and build connections.Set Investment Criteria:Define your investment goals, such as cash flow, appreciation, or a balance of both.Determine your budget, financing options, and the type of properties you want to invest in (single-family homes, multi-family units, commercial properties, etc.).Financial Preparation:Secure financing or funding for your investment.

What are you trying to achieve in your life. 

You will just need to make sure you are able to qualify for a refinance depending on the loan balance to payoff your parents  

I don't think that makes sense with interest rates where they are unless i am missing something about what you're trying to achieve.

Options to Renew Options are another potential deal killer, especially if the investor has intentions of repositioning the property to achieve higher rents.

There are PLENTY of them.That will give you a much more balanced view of the S8 program and whether it may or may not make sense for you and your wife.

. $300 will convert on $500 or more for repairs and additional costs.You have to find a good deal and partnering with an agent to help you achieve that is key.

(These averages represent state-level; individual cities may levy additional taxes.)To achieve the same level of cash flow as a property in Nevada, you would need to generate a higher cash flow in Texas and Florida to offset the higher operating costs.Texas: The property must generate $5,752 ($9,256 - $3,504) more cash flow annually to compensate for the higher operating costs in Texas.Florida: The property must generate $2,343 ($5847 - $3,504) more cash annually to compensate for the higher operating costs in Florida.Overhead costs can have a large impact on cash flow.A Process For Selecting an Investment CityThere are too many potential cities to evaluate each one.

But using that money as a downpayment is not "correct".For starters, it's almost guaranteed in this environment that the interest rate on your HELOC is higher than your CoC returns on the properties you'd buy.That doesn't make sense.Beyond that, how will you pay off the $400k HELOC balance?