I took one on my primary residence, paid no origination fees, and make no payments on it unless I use it, and only pay $70/yr maintenance fee, so if I never touch it over the life of the HELOC (10 years) I'm only out a total $700 in 10 years, which I think is reasonable for the access to the cash.

Given the size of the property you may consider providing discounted rent to a resident to handle some of the on-site management tasks that @Omar Khan and @Ivan Barratt mentioned.

We've been looking out of state a lot as the market here in Utah is crazy but haven't pulled the trigger on anything yet.I recently heard of someone who has been extremely successful in their real estate career who built a new primary residence every 2 years which came with certain tax benefits and profit in an appreciating market.So I thought maybe instead of finding a rental property to buy we could build a new primary residence and rent out our current home which has appreciated about 60% in the 5 years we've owned it.

I’m focusing right now on 2-4 multi units and doing THE BRRRR on my current residence.

I currently reside in Bakersfield.

Thanks everyone I currently own a primary residence and do have about 10k I can invest to get started.

I’m going to be residing in Tampa, FL.

I actually vaped for like two to three years at my current residence.

I have a question in regards to the financing portion and what others may have done:I have a HELOC on my primary residence which I could easily use to fund my downpayment. 

Sine we own our primary residence one of the banks we contacted suggested we use a home equity installment loan (HEIL) saying that it would allow us to make what amounts to a cash offer on the property and secure the loan with a similar term and interest rate to a conventional loan and the added benefits of no closing costs.