I know a great agent in the area who helped my friend buy in Ogden and did a great job negotiating.

Or should I just exhaust the heloc and keep buying houses? 

The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Investment Info:Single-family residence buy & hold investment.

He claimed if he didn't get the money he could not buy supplies to complete the job, which would be done in a week(I knew this wasn't true). 

Quote from @Brian Schamp: Hey BP,I’m looking at buying in St.

Hi @Michael ElliottWe have financed about 15 STRs in Encore for a client and I have another friend buying the second largest unit and the largest lot there.

I will have to buy turn key since I'm starting out.

Knowingly buying into the red just because of financing terms is a very unhealthy way to invest.

If you were to buy direct from the owner you will get great deals!