Tax free money is huge.I may have 100k of instant equity so I don't care about about tax write offs.

Spend a little more money than you might have been planning to, buy in a better area (i.e. not a “turn key” 100k house off the mls), and self manage.

Without it, chances are it could cost you money.

Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

A couple of months ago, I purchased a property using a hard money loan for $115,000.

A fool and his money are soon parted. 

I wouldn't advise pulling a HELOC unless your numbers are dialed in and you are willing to take that risk.

I had a few questions and would appreciate any advice in general.Strategy / Goal: BRRRR but no major rehab at first to lower the risk.

Not worth the hassle/risk to claim.

@Frank FloresInvesting in delinquent tax sales in Houston can be profitable, but it comes with risks.