Even though it's probably a hair early in arc of all of this.I went into what we acquired with buy and hold intentions.

Code pt. 1450, govern the business of real estate brokerage in Illinois.The Act, as amended, defines a real estate “broker” as an individual, partnership, limited liability company, corporation, or registered limited liability partnership other than a real estate salesperson or leasing agent who, whether in person or through any media or technology, for another and for compensation, or with intention or expectation of receiving compensation, either directly or indirectly:(1) Sells, exchanges, purchases, rents, or leases real estate.(2) Offers to sell, exchange, purchase, rent, or lease real estate.(3) Negotiates, offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of real estate.(4) Lists, offers, attempts, or agrees to list real estate for sale, lease, or exchange.(5) Buys, sells, offers to buy or sell, or otherwise deals in options on real estate or improvements thereon.(6) Supervises the collection, offer, attempt, or agreement to collect rent for the use of real estate.(7) Advertises or represents himself or herself as being engaged in the business of buying, selling, exchanging, renting, or leasing real estate.(8) Assists or directs in procuring or referring of leads or prospects, intended to result in the sale, exchange, lease, or rental of real estate.(9) Assists or directs in the negotiation of any transaction intended to result in the sale, exchange, lease, or rental of real estate.(10) Opens real estate to the public for marketing purposes.(11) Sells, leases, or offers for sale or lease real estate at auction.

But at the same time I think doing the BRRR from out-of-state for a newbie will be extremely tough.Ultimately, I would love to buy two properties this year with the intent of refinancing in a year or two to repay my 401K/HELOC and then repeat.I guess this is a really long way to ask, how would your strategy change if you had $100K 401K/HELOC instead of cash?

Whatever you do, represent yourself and your intentions accurately and come to an agreement that works for both of you. 

Have to keep myself moving :)  Hopefully I'll settle into a pattern and it will become more second-nature, instead of super intentional. 

@Steve Rozenberg CAPS are for Em-Fa-Sis for particular words only, no intention of damaging ear drums :)I focused my post on the aspect of marketing to potential renters since that is the forum you asked the question.  

My husband and I are starting the search for our own first home and we intent to purchase a multiplex property and househack to get started. 

All of our condos have been buy and hold with the intent to make positive cash flow and wait until the condos recovered in price.

@William RobisonI don't think that there is a legal issue and if your intention is to do your best marketing the property as an agent I don't think that their is an ethical issue either.That doesn't mean other people won't get all in a huff over it.Realty boards and licensing commissions would hate that kid of stuff.

One is just stupidity, the other has much worse intent.