Using a heloc as 1st mortgage really only has a major benefit if you have idol cash sitting around from your paychecks. 

If there is a renter in place, you may be able to do a cash out loan without changing who owns it. 

Quote from @Dan Grove: Some combination of cash to seller, closing costs, repairs, construction, paying off arrears, assignment fees, commissions.   

If he has a very high success rate and is genuinely interested in seeing you succeed; if you listen to him and others who have been there you will win like them.

I'm in a cheaper cash-flowing market in PA.

I pinged Henry on the side to hopefully connect.Do you know of more properties that meet my buy box (1 hour outside of Dallas, cash flow year 1, <$500k)? 

I'm currently only cash flowing about $100-$200/month/property and exploring maybe some other ways to get more cash flow.

By accelerating your depreciation schedules, you reduce your taxable income which in turn increases your operating cash flow.

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It's been less of an issue with my first two properties which cashflow at 3% interest rates, but the latest unit is cash flow negative on a 7% interest rate.