An 80% LTV means your loan amount is 80% of the appraisal or purchase price, whichever is lower.  

I just bought a triplex next to some properties of mine (just so I could have the extra land) and my bank financed based on 70% of the appraised value, or a 1.25x DSCR -- whichever was less.  

We just sold that home, but missed the capital gains time line by 1 month (another story), but will still able to take that money/profit and pay off my current home..bought/built in 2012 :-).we were lucky with market timing, but this HELOC method did give us flexibility and "increased our equity" since we paid down principal quickly while the market rose quickly.MANY folks get into trouble with this method if not disciplined though.Good luck with which ever way you choose.

The next step would be setting the goal of how many properties I'd like to acquire in a year to reach my goal in the timeframe I set.I think I'd set a five year goal and reevaluate after five years or whenever I reach my goal, whichever happens sooner. 

Whichever market you focus on, definitely research the local regulations before you do anything else.

@Simmy Ahluwalia I don't think thats true for the 50K or 50% (whichever is lesser) loans to yourself in 401Ks.

@Mark Malevskis You could either split your commission or pay a monthly fee to your sponsoring broker, whichever would be more beneficial to you and your business. 

Best of luck whichever way you go.

Whichever county / city you choose, gauge rules,  regs and sentiment well as part of your DD. 

Baltimore is somewhere in the middle.Getting in the right area/neighborhoods in whichever one you choose will likely be key.