First, to be clear, my calculation was purely a cash-on-cash return based on your 20% (34K) down payment and 415/mo net income. 

Purely examples

I am not aware of a purely online version and wouldn't recommend one unless you already know the law and terminology pretty well going into it.

If you're looking for something as a pure investment and don't mind waiting a few years to recoup anything you put into it, then look at the areas I mentioned above.  

Follow your heart and pure desire first; especially if you are young.  

Lots of cash buying in the area.I have also seen some financing buys that must work out to be pure equity/appreciation gambles in that area.In the event that you DO fine a price point that works you will likely have to compete with a favored cash buyer.

Even in this bubble, there are investing opportunities out there.Taking out a HELOC purely to cover an anticipated future shortfall in income, will never get you "bigger pockets"!

Since you didn't provide many details, the answer to your question is really "it depends".However, I will say from a pure financing option point of view, I am a big advocate of home equity loans (used correctly). 

I realize my post is a bit different from the pure investor stand point, but I thought it may help give you some insight. 

I think the important thing is to buy something, whichever one (partly owner-occupied or pure investment) works best for you in terms of #s and other factors (location, living next to your tenants, etc.).A portfolio of 1000 units begins with a single first purchase...