HELOCs are all over the place, as they aren't regulated the same as traditional mortgages. 

What should I do with the money I am earning right now in internships if I plan to begin investing in real estate as soon as possible after graduation (whether that's house hacking or traditional rental)? 

At the very least you should have a discussion with your lender and have them pre-qualify you if you are planning on getting traditional financing.

Our market is great and compared to other large coastal towns traditionally good value.  

My partner is self-employed, so has a K-1, not a W-2, so a traditional mortgage will not work.

You don’t have to get rich on your first property, it’s like a free higher education class. if you lack the courage to buy real estate when times are good how will you have the courage to buy when times are tough?

.  Or psychological thought patterns of  persuasion and people who are considered sophisticated) Not looking for anything that targets emotions or that hypes passion like rich dad poor dad.

No it's financed with a traditional mortgage.

But some people just think that all landlords are rich and greedy and it'll probably be impossible to convince them otherwise 

Would love to hear if anyone thinks these numbers / assumptions are wildly off or too conservative.Acquisition CostPurchase Price = $200,000Closing Costs (at 2%) = $4,000Due Diligence (at 1%) = $1,500Up-front Renovation Reserve = $5,000Total Acquisition Cost = $210,500Financing:20% down payment = $40,00080% loan (likely a major lender, traditional 30 year loan) = $160,00030 year term @ 3.2% (educated guess with very solid credit)Monthly Expenses:Mortgage Payment = $691.95Property Taxes = $120Insurance = $55Property Manager (soup-to-nuts) = $159Other Variable Monthly Expenses = $40Capital reserve monthly deduction = $37/month (5% of net income withheld for capex)Assumptions:3 months to renovate / update post acquisitionProperty rents for $1,400 / month (and assuming a 3% annual increase)20 day vacancy assumption = 5.48% vacancy rateTenant takes occupancy month 3Annual expense growth rate of 3%Expected / Target Returns:Monthly IRR (w/ financing) = 15.48%Monthly cash-on-cash return (average over 5 years) = 2.79%Monthly Net Operating Income (year 1) = $798Capitalization Rate = 4.79%Kyle