this is what we build and we do it with newbies but make sure you partner with a builder who has experience and a track record.

Do you have an idea of the type of property you want to buy and a price range?

It's probably going to mean paying points at closing, a high rate, and a serious pre-payment penalty (like 5 years). 

I have a house that’s a long term rental upstairs and a medium term downstairs.

They failed to rent a unit in a great location/condition and a hot market for 4 months, and the rehab expense reports don't line up with the estimates they provided.

I would like to purchase another property so I looked into a heloc and a cash out refinance and it looks like I would qualify for about 75000 max which would be enough to put a down payment on another property and rehab it, but I still haven’t paid myself back from the original property rehab.

Look for multis with separate entrances in different areas like one door in front for one unit and a door on the side or back for another.

Out-of-state investing makes the most sense for me—it’s impossible to cash flow anywhere near me, and moving wouldn’t make sense because I wouldn’t be able to earn the same wages or find the same kind of jobs.Before this purchase, I already owned two properties: a long-term rental outside Houston, Texas, and a short-term rental in the Sierras in California.

Its 20 years later I have money in the bank, great credit,  living alone very modestly, and a business that is doing well.

My 2 cents: You're young, you could get a real estate or real estate adjacent 9-5 so you can get paid to to learn more about real estate while learning and building the side hustle outside of business hours.Seems like you live in a major US market so that's a plus, you could get a tenant services coordinator job in commercial real estate making $40-60k (not sure if that's more or less than what you are making now) It's an Entry level role, anyone with a degree and a polished resume and a passion for real estate should have a decent shot at landing a job like this.