My husband and I are new to RE investing, and we're looking at a property we want to buy to start our portfolio. In order to purchase this first property, we got a HELOC on our home for the down payment and closing co...

Before you buy, make sure to get the latest rent roll (a breakdown of what tenants are actually paying in rent), the tenant ledger (which shows their payment history—whether they’re paying on time or carrying a balance), and of course, a copy of each lease agreement.Too many investors rely on what the seller says, which often doesn’t match up with what the tenants are doing.

I am rolling 401k over from a previous employer to fund the SD solo 401k.

Looking forward to getting the ball rolling and getting my first deal under my belt. 

As one banker so eloquently put it: "A rolling loan gathers no loss." 

At least you have an asset and can start building the cash to buy a STR for yourself and then roll on.

Every property adds to the snowball rolling down the hill.

At that point, I will start to make some judgements about growth vs. payoff vs refi, etc.You could use the money to continue to accelerate the payoff of your primary then get a HELOC on the equity to fund the downpayment of a rental property if/when you find one.For me though, I'm making minimal payments on the mortgage and getting the investment snowball rolling as soon as I can.

I rolled some funds from a previous flip into this purchase.

I have never ceased to be amazed at some guests, lol.