A Heloc is a good tool for doing renovations or repairs but not for down payments.Especially now that rates are higher on HELOCs versus a simple cash out refinance.

Sounds like a great cash-flowing rental.

When structured favorably, seller carried transactions can offer lower down payments, below market rates and terms and improved cash flow and cash on cash return.

My goal for the next 2-4 years is to eventually have enough cash flow to focus on my college and starting a business.

Had a 790+ credit score and then nothing as we went a few years debt free and cash paid for everything.

Welcome @Hogan Chouinard,Memphis is a city with a strong workforce that offers low-cost entry and provides consistent cash flow to investors.

We are real-estate investors from CA & trying to pick an OOS market with Tulsa (stable economy and future outlook, modest appreciation & reasonable cash-flow).We heard from family/friends about new construction duplexes around the Tulsa metro targeting investors. 

I've also been considering this as an idea for generating cash flow with minimal capital outlay. 

Any suggestions on how to best structure the deal in order to put down less cash or be able to take the cash out if I buy it low enough?

There are cases where certain portions of the NNN Expenses are capped at increasing more than a certain amount over the previous year which is another thing to take note of when purchasing an existing asset because if the NNN's are capped then the owner runs the risk of absorbing a portion of the Operating Expenses which ultimately kills cash flow. 5.