One key piece of advice is to make sure to build strong team around you.

When my wife and I started out we new we wanted to invest but did not know how to, we took action and unfortunately found a family friend realtor (amazing learning experience) then we found bigger pockets. 

I want to find something local (Los Angeles area), move in, do small renovations to possibly build up more equity, do a 1031 exchange, and find something better. 

I also want to build my network here with other likeminded people who see the power in real estate.

Live under your means and start thinking about investing in Real Estate.In your position the thought of finding a duplex to house hack, live in one side and rent the other. 

I wonder if building condos that are more affordable for people to purchase could be good.

Which would be to borrow the money to fund 1-3 residential flips, in order to pay back the loan and then have more capital to then actually build on the land starting early spring of next year. 

This might he the start of a new niche to take advantage of.  

If you plan to use the remaining HELOC for a DSCR or BRRR strategy, that could help you build more equity, but consider if the current market conditions will lead to higher rates and lower cash flow in the near term.If your goal is to scale, you might consider holding onto your current duplex for the cash flow and focusing on the BRRR/DSCR strategy, which can allow for more control and potentially better long-term returns.

If house hacking isn't the best option for me, how would you recommend starting out to build up some investments.