The affect over time is an encouraging one and it takes some good patience.I'd say a hard "no" to the truck . . . the interest rates on an auto loan is currently less than on an equity loan, so there's no benefit that I can see to choosing the more complex route of using a home equity loan to purchase one.

Hoping like many to become a real estate investor over time, but for the moment I had a question which I'm having a lot of trouble figuring out:What would be the best / most appropriate insurance configuration in this situation:- My wife is the title holder for a single family home- She does not live at the home - Her parents live at the home, rent free- Her brother pays the mortgage on the home and he plans to rent out two rooms in the house to long term tenants (strangers)- Her parents will continue to live in the rest of the home, rent free (this is fine, just putting it here in case it affects the insurance)- My wife and I are able to visit the home at any time and do so regularly to see her parentsAll I want to make sure is that we (my wife) are covered from all angles on insurance.

Repeat.

Depending on how and when they are to be addressed will affect your decision/ability to use the FHA loan.I hope this helps. 

I also just started BP-‘Buy, Rehab, Rent, Refinance, Repeat’.I was a broker for 5 years, have been in  property management for almost 5 years.

Build in equity, get renters in place, refi and pull out your original investment. if done correctly you should be able to rinse and repeat the process and you will have nice passive income flowing.

I bought a second SFH not far away and will rinse and repeat.

There are several variables that will affect the answer.

Experience is another factor that will affect the LTV; for the most part, if you have 3 or more flips in the previous 24 months a 680 or greater FICO and cash reserves and the deal is at 80% of ARV or less; you should be able to access 90%  of acquisition and 100%% of the rehab. 

Use your profits for the downpayment for the next property and repeat the process.