Purchased a home during the pandemic, value has gone up roughly 2.5(estimating), believe i have enough value in a HELOC to get a down payment on a second home.. is it a wise decision to add that to my plate then rent the first house for mortgage payment+?

A reverse mortgage can be paid off, but the parents may have trouble obtaining financing as typically a reverse mortgage is received when borrowers have trouble making monthly payments and have little income but lots of equity.

I am currently  in the process of purchasing my next primary home in GA using a VA loan and my own savings as a down payment. 

My monthly payment is coming to about $5,000.

I have not dealt with this in the past, but i know fellow investors who have had money partners put in for the down payment and given the money partner a return on their partnership.

Hi all - for those renting to section 8, where the term of the lease could start on a random date when you pass their inspection (say April 9), how do you set up terms of payment with the tenant once their portion is determined?

Look at your monthly payment (PITI = Principal,Interest, Taxes, Insurance) + HOA + (other maintenance fees if any) and if this amount is less than what you charge for rent (whether its Long, Mid, or Short Term rentals) and you are happy with the positive cash flow, then yes.Or maybe you're breaking even with the condo but you have  knowledge that the condo will explode in value due to some business/attraction/law/policy that will prop-up the sales price in the near future, then yes.Really, it boils down to what your goals are for this first investment.

If Rent is not paid on the Due Date: (check one)☐ - There shall be a penalty of $[LATE FEE] due as ☐ One (1) Time Payment ☐ Every Day Rent is Late.

Asking for proof of funds greater than the amount of the 60% down payment is the starting point to ensure you're not wasting your time.

But one undeniable benefit of house-hacking is to ability to reduce w2 taxes for primary residence with interest rate payments.