I would look FAR AND WIDE for someone to do an investment property HELOC -OR- go to a bunch of banks and CUs (including who you bank with now) to find someone to provide an unsecured (or secured if you have other collateral) LOC to get rid of the high int debt.

Spreading funds across 2-3 properties could provide diversification and steady cash flow.

Allocate equity based on contributions: you provide the $235K HELOC and management, while your former boss contributes renovation expertise and labor.

I personally feel that this window provides a good hedge without being too expensive.

In fact, for tax sales in PA, the parcel number check is usually best performed first, to see what mortgages can be found (if any); seeing a big mortgage means it's best to move on to the next property on the list.And on a side note, IRS liens can be wiped out at foreclosure of any kind, provided the IRS lien is in a junior position and provided that proper notice is served upon the IRS. 

I can see how starting with a 4-plex could provide better returns and learning opportunities without an overwhelming jump in complexity.

:We use the cheapest ones that they provide at Lowe's, our handyman installs.

Big things is be realistic on timing and maybe provide a mover and or storage unit deposit as they may not be able to figure that part out on their own.

In fact, the more issues that arise, the more profitable theses properties become for the ancillary service providers....and you want to know why these investments are pushed aggressively by so many (besides of course requiring nothing more than a pulse to buy them). 

You will also provide the whole amount if you plan on repaying the loan in full beforehand.