I have listened to plenty of podcasts and ready a number of books, but only a few mention purchasing yours first rental with a HELOC.

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

Can someone please explain how transactions are being made?

I don't think I'm ready for our of state investments but who knows!

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Make sure to have a script ready!

Plan is to hold as long as my IRR is higher than 10% What made you interested in investing in this type of deal?

My name is William Taylor, I am extremely excited to be a Pro Member in the BiggerPockets community and ready to gain immense knowledge from all of the contributors.

What is your average make ready cost for the owner?

Quote from @Jacob Campbell: Hello - After listening to the podcast, I've made a commitment to purchase a rental property by the end of Q2 this year (ideally by the end of Q1).