So, what's the natural progression--or what should the natural progression be, all else being equal?  

Jonathan Dougherty , different lenders have different programs, but in general you will pay 2-4 points (2-4% upfront at closing) and a 10-14% interest rate for the entire amount borrowed.Construction financing is typically done via draws based on progress made.The goal should be to pay the HM loan off as soon as possible- ideally 4-6 months.

To be more successful, you simply have to work on the other elements to progress your REI pursuit.

Create a blog to share my progress with the community and to also help keep myself accountable. 5.)

Back in '89 when Russia opened up,  my son wanted to join his class and visit St Petersburg - - and of course came to dad for support.In an effort to be supportive and yet to teach the value of assets, I asked him when he was going to make some progress on restoring the '57 Belair in the driveway. 

Since your interest lies in auctions, I added a couple blogs to get you in that mindset.https://www.biggerpockets.com/renewsblog/2009/10/30/times/ (Auctions)https://www.biggerpockets.com/renewsblog/2015/07/03/oncetwiceaewin-real-estate-auction/ (How to win at real estate auctions)To be more successful, you simply have to work on the other elements to progress your REI pursuit.

Do you use a steady contractor and how do you know you have the right contractor before he/she starts working?

Mark Aaron that's awesome I actually have some family up there that I might be connecting with in the near future when I go up to Houston we can get in contact and maybe talk about partnership and maybe some insight in the market up there I know the market down here is pretty steady but just like you I have yet to get a few investments going myself good luck on your goal hope to hear from you in the future

Account ClosedIt may not be necessary, but it is a significant advantage to have cash reserves and/or steady income when it comes to getting started in real estate investment.

I look forward to hearing about your growth and progress!