I will not be moving in, so that's a non-starter.

Hello, It does not look as though you are seeking information with this post; so I will say that in four years of "looking for deals without using a loan", you surely have gained insight.You should now be aware and clear about the type of property that you would like to target.You  should know if you have a specific price-point for your target properties.You should know if you prefer starter homes, small multi-units;  or larger, more expensive homes and larger multi-family units.

Repeat process...Essentially, I should be able to use the HELOC funds as my starter and then do a cash out refi on each unit and just keep working out of the HELOC as revolving credit as needed.

We can read about it, but obviously you are a self starter, try tk use ehst you have learned and get your feet wet.

I look at builders doing starter homes in say texas and making 10 to 15k a door. and wonder WHY ? 

Please watch The Big Short, 99 Homes, and Margin Call for starters. 

This would be a perfect starter home for someone...but I don't want to exclude an FHA mortgage thanks to seasoning.

@ jarese for starters..i would say identify your strengths...are u a people person..a numbers guy...have a lot of time..a money guy where u have funds to go residential versus commerical..however this last criteria may be a little skewed given the fact commerical property can be acquired fairly cheap in the detroit market...i would also say decide if u want to get into the rehab bussiness the landlordong business wholesaling birddogging etc...all these things can make u money but i would suggest that u pick one and stick to that until u meet a predetermined goal u set for your real estate objectives

Well for starters you should always get a copy of the lease, you have no position to argue if you don't.The lease will outline who has the right to enter and for what reasons.

Mike Jakobczak, $200K is a starter home.