~Andrew    Hey Andrew, You can do a HELOC on an investment property, however you may be capped at 70% CLTV and may need to draw $100k to meet the minimum loan amount.

To make it work, you have to find someone with a problem or situation bad enough that it makes keeping a loan out on a property that he does not own seem like a good idea...or maybe the best bad idea.

Depending on what the program offers, they could partner on deals with you, you could leverage their credibility, they can help you get financing on loans you would not be able to qualify for alone, and if the group has a network of people that collaborate you get access to awesome people all working towards similar goals.

That value, if owned for more than 6 months, can be used as the down payment for a loan.

One way or another, however, the investors must work to pay down loans, increase rents and decrease expenses wherever possible.

Leverage FHA loans with their low down payments (around 3.5%) to invest in a multi-unit property like a duplex, triplex, or fourplex.

DSCR loans also won't report to your credit as a tradeline. 

Assess your financial situation and consider financing options such as traditional loans, private lenders, or partnerships.

It was rejected due to it being a conventional loan and the seller is looking for cash only offers (septic system needs to be replaced).

I saw some of your previous posts, so I'm glad you're getting closer to your first.I think your rent sounds pretty cheap between you and your fiance now, but I also don't know the COL in your area.Maybe if you found something comparable in price or slightly less, then it could still math out, because you'll be benefiting from appreciation, loan amortization, and potentially a housing expense decrease over the long term even if slightly.