HELOCs are fine, but keep in mind that you really only want to use 50 percent of less (each) of your available equity just so you aren't creating a problem that you can't solve later if the value of your personal residences fluctuates.If you both have W2 jobs though, have you looked into getting qualified together and just getting a loan, 10 percent down each?

Personally, I wouldn't offer SubTo or a Wrap, For reasons I've written about fairly extensively. https://www.biggerpockets.com/forums/70/topics/1227199-the-m...However, I would sell on "Lease Option" and that may work for you.

Once converted to a rental, repairs and improvements may qualify as deductible expenses, but pre-conversion repairs typically do not.

Maybe the section 8 person can help advise you, but I'm certain they will give a disclaimer with anything they say that you still need to consult your own lawyer or read the rules.

Send a message introducing yourself, sharing your goals, and asking if they’d be open to a quick conversation.

@Kyle Carter, The strategy you're looking at would be what is called a "consolidation exchange". followed by a conversion to your primary residence. 

I only spoke with one person so far and they scheduled for more information gathering/ rental investment calls from them this upcoming week.

Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?

Accountant is more for double checking return and having in depth conversations about taxes and business. 

Some people are growth-minded, which means they are willing to help for a low cost, or not much compensation knowing that the more conversations they have will lead to more clients.