If I have several options, I would prefer a HELOC with no initial draw requirements (i.e. to establish a literal line of credit that I have no specific short term plans to use), i.e. not something like the better.com HELOC. 

For example, most anywhere will get $700 room, $75 fixed rate utilities, $700 deposit, and then offer a 36 months, 12 month, or month to month lease ($350 fee if ending lease <90 days). 

New realtors, new realty companies, new PMs aren't going to have those established relationships and *no* PMs give up the names of their people to anyone else because getting good people is difficult. 

Utilities are OFTEN overlooked so reach out to power, telecom, gas (or go all electric), water, and sewer to make sure you understand what it would take to get separately metered services from the primary house.

There are quite a number of things that can make utilizing an FHA loan more difficult such as more barriers during appraisal, appearance of low qualification/little cash, typically longer closing period, likely higher interest rate, and PMI cannot be dropped without a refinance if 3.5% down.That said, just chain 5% down conventional loans, and make sure your duplexes pay for themselves.  

I am not sure about the other markets but I would suggest looking up a Realtor from here and utilizing their knowledge to help you. 

I don’t really have an interest in House hacking if long-term rates are $700 a month incl utilities for a bedroom. 

I got into RE investing utilizing the same strategy as you're exploring.

Hello Biggerpockets Community, This is my first post as I am trying to utilize BiggerPockets more. 

Eliminate debt, establish a budget, and save.