Because of your loan size, I would advise to buy the rate down using up to 2 points as those usually have the quickest ROI for the payment savings and you will not see rates drop low enough probably to do a refinance that makes since as it would take longer to recoup the cost of the refinance.HomeStyle Renovation loan does require all work be done by a GC so you cannot help with the repairs. 

Luis Maqueira MMPcheck the meet-up Real Estate investor group in the Bigger Pockets events we can do the deal live next Tuesday at 7:00 PM

I am only saying that to set up your expectation that it might take a bit longer that it would have a few years ago.

Here are some good place to start:http://www.biggerpockets.com/meet- find and connect with other BP members that are in your area.http://www.biggerpockets.com/alerts - Set up keyword alerts to be notified of the topics that interest you.And, of course thehttp://www.biggerpockets.com/forums - ask any question about real estate!

The latter process would take more time (due to capital generation from other sources), cash investment and end up with much less capital appreciation over time but would also carry much less potential risk. 

I'm going to google and look some things up but was wondering what kind of credit cards this community recommends.

You can't just rely on PM, you need someone you know who can check up on things or drive by when needed.

I feared I would mess something up and make a catestrophic mess of my investment. 

Typically HELOC lenders don't escrow since they're often set up to be in 2nd and rely on the first to check tax/ins more regularly.

Hey Karl, @Karl SzymanskiI can definitely understand the temptation to do something close to home, but it likely will depend on whether you are planning to manage these properties yourself (which I personally, wouldn't since you are simply just buying yourself a new job) and where the best forecasted ROI is at.