For example funding rehab with the goal of a quick refi to pay off the heloc.

Figure out what your goals are before you make your decision.

It's faster and smoother than trying to handle it yourself from another state.

What are your goals? 

Wholesale, foreclosure, and seller financing can work too, but I’ve noticed that careful analysis and having reliable local contacts often deliver the best results over time.So as you two gear up for your first flip, how are you balancing the potential risk with your long-term goal of buying rentals?

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

They try to hit that goal and have been successful at that, he told me.

I saw some properties today, only one of which I thought had potential, but an offer would have to be pretty low to hit the 70% rule which is the goal.

I am new and I am checking in to see who is local to Albuquerque or in New Mexico and wants to meet up for coffee to talk about investing and goals! 

This would provide liquid cash to reinvest or use for other financial goals.