Combining the your cash with your HELOC could allow you to make a larger than normal investment that should theoretically make more than the interest rate on any of your loans. 

That being said, if you buy a 2-4 family unit and plan to live in one unit, you can take advantage of the 203K.The 203K combines the purchase and repair funds, but you still need to have 3.5% down payment and money for the closing costs.Any time you purchase a property from a motivated seller, you can take advantage of that opportunity to purchase it for less than market value, which is why distressed properties are popular with investors.

Personally, I'd try and get my housing expenses down to nothing but that could be a function of the market I am in - Chicago.I hope that helped!

Combine the replacement cost and the usable lifespan to calculate $/mo for each of those items.

If you love horror stories you will love this :).  2 exterior walls (brick facade) need to be torn down and completely rebuilt, hanging asbestos abated, 6 units were vacant or abandoned (this was suppose to be a fully functioning apartment), ventilation fan in bathrooms are shoulder height IN SHOWER WALL and not on gfci.  

That new plan might combine both property & general liability.

@Fred Pineda:You are still confusing/combining closing costs and down payment.

You can combine all of the above too, but there is no free lunch ... you'll have to put in more hustle, more risk, or more money.Whatever the case, make sure you can afford to hold it in good times and bad.

Warehouse was rented for $1800 combined.

A combination of marketing is ideal!