I am currently a 19 year old looking to simply gain as much financial education, simultaneously saving money for future investments. 

You could even ask the seller for the plumber they used as a starting point.

You're better off starting your analysis with 1.5x a typical market rent (use BP or rentometer rent estimators) and seeing if a property would make sense as an MTR at those rents.

We're considering using an FHA loan, but due to his credit score, we haven't started the preapproval process yet.What steps would you recommend we take to secure funding for our first investment?

Both require a postal permit so the saving is gobbled up fast.  

Luis Capriles I just officially started working with mine a few weeks ago, but so far I like how it is working out.

That is real tax savings.  

In fact, the median sales price of a single-family home in the Austin metro is ~52% higher than it was at the start of 2020.

I'm very interested in getting started with fix and flips.

But if you are already worried about paying back that HELOC out of the property you buy, you are creating a house of cards from the start depending on how good of a buyer you are.