I love the HELOC strategy, but you should be buying with the intention of refinancing to completely pay off the HELOC in no more than a year.

Some people use the 70% rule: Take 70% of ARV, then subtract rehab costs, you should pay no more than that for the house (so if the house is worth 100K ARV, 70% of that is 70K, then subtract your rehab costs--let's say 20K, then you should offer no more than 50K for the house, leaving you with a 30K profit).

Now there are no more 0% interest balance transfer offers available from one of my banks.Earlier this year with the help of my “Core 4” team on the ground (see David Greene’s awesome book Long Distance Real Estate Investing), I bought a single family rental property in Indianapolis, IN while living in NJ.

But you can own no more than 3 properties.

My goal is just really to get to the place where we are financially free and have no more debts.

@Karam A Tascoe just make sure you should be all in ( purchase and rehab ) no more than $52,000 for each property.

You are limited to holding no more than the equivalent of two month's rent: CLICK HEREI would also recommend you read a more technical description of how this works, written by an accountant: CLICK HEREI highly recommend you consult an attorney or your state governing board for clarification.

As a Loan officer, i have relationships with various other banks and have identified my chosen institution that will allow me to put down 15% of the original purchase price and no more, so long as the "Arv appraisal has a loan to value of 85% still.

I manage in Barstow Ca, I think the climate is similar to Arizona where you are, I install window swamp cooler, those guys cool up to 1200 square feet house very effectively n the power consumption is s no more than a typical appliance.

Gone are the days when a property was offered up for  no more than the amount of taxes owed, now days it has become a bidding process and as in any auction enviroment people tend to get emotional about their bidding and become quite impractical, and irrational buyers