Most are also looking for experienced buyers, mainly to minimize the chance of a newer person getting cold feet and backing out at the last minute.If you still want to meet wholesalers to build your network there’s nothing wrong with that, and my usual advice is to go to local real estate investor groups such as RIREIG in Rhode Island or Black Diamond REI in southern Mass.

Additionally the fees and expenses with a HELOC are minimal, at best.

I buy with a lot of hard money day 1, as is, no inspections, minimal financials needed. 

I'm not sure what your experience is, but if it's minimal I'm not sure you would want this as your first property. 

And the best part is instead of paying anywhere from 6-10% of the monthly rent to a property management company, usually (depending upon the # of units you have) the subscription fee is minimal.

My parents live in Boca Raton Florida and just collect the rent checks every month with minimal upkeep. 

If there is enough money to be made perhaps you can structure a win-win and cash out a higher gain when all is said and done while minimizing your risk by working with someone experienced in a development.

Even with that stated our vacany is extremely low and the best item is that the tenants tend to stay for years.Not uncommon to see limited income and low debt so the screening can be a bit different.Overall the 55 plus market has offered good returns with low turnover, minimal repairs, and great stability.

Typically HELOCs have minimal/no closing costs, the bank even covered the appraisal fee on mine. 

Often it won't even tell you unit mix (without which you can't do market research) but as a first pass you only really need the gross income (minimally).