Thank you @Dave Foster I look forward to my new venture and investing in real estate hoping to achieve financial freedom and enjoy my life with my kids and my beautiful wife that has a terrible debilitating autoimmune disease.

Although it may require a higher initial down payment to achieve immediate cash flow, the growth potential in Austin is unprecedented.

Don’t forget to plan for the future, maintain a healthy work-life balance, and celebrate small wins along the way—it’s all part of the journey!

Bank of America does this - not sure about the minimums, but if you have a good relationship with your local branch, they can waive the monthly fees until your balance grows from rental income.

If I invest in residential RE, it is not to achieve returns barely above passive options.  

When you are done you have a cash-flowing rental and your HELOC balance is back to $0.

Gradually raising rents, exploring lease buyouts, or selling with tenants in place are balanced alternatives.

But, from this thread above, I'm wondering if not having Balance Sheet a big deal? 

When interest rates rise, in a balanced market, rents should rise, as the alternative to renting - buying a home - becomes that much more expensive.

It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!