These loans are quick, and require less documentation. 10-15% down payment depending on experience. 

Depends on the deal.

In either case, you'd need to plan for a 15-20% minimum down payment depending on which route you choose to go. 620+ FICO.

Depending on how long the engagement is (as that effects the amount of interest paid) I end up getting more of a 60/40 overall split. 

There are a lot of factors that will go into your trade-up, and depending on the scale you want to go.

In my personal opinion, it depends on whether or not you plan to refinance and if the rehab you do will substantially increase the value.

The reason being you'd be leaving a super low rate (comparatively) to then roll it over into something more expensive.My answer to your question is the same I give myself and my clients: It depends on what your situation & goals are.

Just know if your planning on using your HELOC and depending on the lender.

Whether or not you should proceed with buying your first investment property outside of California depends on various factors and your individual circumstances

Seems like there is always something that he can offer and plan a well rounded overall strategies depending on your particular situation.