I also have a $50k line of credit I can tap into when needed that will grow as I keep growing the business.Right now my rent is about $1700 where I've been staying for over a year, but really wanting to trade that for a mortgage and start building that equity.

I recently helped a friend who was in a similar position - looking to tap into equity for a rental property purchase in Phoenix.

I tapped out my client pool of investors and began to seek private capital for equity and I keep hitting walls. 

You could potentially tap into your existing utilities but there are other considerations that might make it worth separate utility laterals and services. 

Ok, then know when in over your head and tap-out! 

Quote from @Spencer Ware: Quote from @Obed Calixte: Are you tapped into your local REI groups?  

Start by leveraging what you already have—consider tapping into equity through a HELOC, house hacking again with an FHA loan, or increasing cash flow by converting a unit to a short-term rental.

I would tap into your 401k as a super last resort.

Right now, even if you have no reserve money saved, if a bad situation came up you could tap that 401k to cover the situation. 3.

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.