I would like to do the BRRRR strategy if possible, but at a minimum want to purchase a SFH buy and hold in my market.I have networked and lined up most of my "team", now trying to establish a relationship with a local bank in town. 

I found a 2 bed/2 bath with a fully finished basement which i turned into a 4 bed/2 bath, increasing the rent significantly. 

I’m a total newbie here and in the process of researching HELOC terms/rates from different banks for a line on my primary residence.

I have a house which I bought on a line of credit (low interest rate, but tied to LIBOR).

Wife shows up later and does all the cleaning and making beds. 

I am getting a line of credit on a second lien deed of trust with the bank that has the 1st mortgage.

I have included a link to a comparable property on Zillow for reference.https://www.zillow.com/homes/recently_sold/36559840_zpid/39.28452,-76.564461,39.282762,-76.567345_rect/18_zm/Property Details:3 bed 1 1/2 Bath2,791 SF1,402 LotYear Built 1920Property Type : SFRTax Assessment - 227,000

There are good investor friendly lenders here that offer creative products ranging from construction loans, non-recourse loans, and commercial lines of credit.

I planned on living there a long time and just did the repairs that i did for my own benefit and was going to redo everything again down the line when i had more money and wasnt doing everything all at once.  

Because of the existing nursery home lien, the new note would be second in line.