It’s important to ensure you’re comfortable with these risks and consult a financial advisor.If you choose to use a HELOC, consider traditional financing or private loans as alternatives if you prefer not to risk your home.As for your first rental, markets in the Midwest and Southeast offer great opportunities with turnkey properties that are tenant-ready and appreciating.

California law requires abandoned tenant property under certain circumstances to be sold at public auction.

I own 11 properties currently and I have only sold 1 in the past because it was a condo with a fraud HOA company.

I own 32 properties myself and have bought and sold over 300, including a few apartment complexes.

I also don't like the sardine effect where your just packed in a building, ocean lakes is tight with homes but still feels private at the house(s), golf cart community and 2 min from the ocean on a golf cart where ours are.

Because that property didn't quite fit my portfolio profile, I re-sold it 5 months later for $375,000. 

You can save a lot on costs if you do many repairs yourself.Look into hard money lenders or private lenders for the initial purchase and rehab.Connect with wholesalers, agents specializing in investment properties, and other BRRRR investors to find deals and learn more.

new houses are getting sold for 600K, old houses switched to multiple offer selling model, just like some places in GTA.

Many opt for other investing methods in their SDIRA like private lending, crypto, private equity...anything except collectibles and life insurance.Note that a Solo 401k is exempt from UBIT on leveraged real estate so if you have self employment activity and no full time employees save for you and your spouse you should consider the Solo K as an option. 

Curious if any General Contractors have recently originated commercial general liability insurance and build units that are sold as Condo/PUD's.