Even if you purchase with a single family home, it’s a start.I’m active duty Air Force with four properties.

As an owner occupied home, you can sell and take the profit tax free. 

Quote from @Kendall Jackson: I’m trying to get started in real estate to provide additional income for flight school and eventually buy a home in San Diego.  

And as a hopefully new landlord soon, any other tips or ideas in regards to managing a multiunit would be greatly appreciated!

Hi BP,Im trying to figure out if I should look into using a HELOC on my parents home to buy a rental property in cash.

I've considered different options, such as refinancing this home to make the land a separate transaction or even selling my house to build a duplex, (since I am not sure if I will be able to get financing for the construction project if the land and this current home are on the same loan).

Home Equity Line of Credit (HELOC): If you have significant equity in your existing duplex, a HELOC could provide funds for further real estate investment without touching your retirement accounts.3. 1031 Exchange: If you decide to sell your current duplex, a 1031 exchange could allow you to defer capital gains taxes and reinvest in larger properties.4.

What tips and precautions can you provide In order to succeed in this project? 

The home is in Arizona.

At that time it was an area with homes that move relatively quickly and a low enough price point with the rates to make it appealing to buyers.