I wouldn't personally use a HELOC for long term debt, I would use it as an acquisition (bridge financing) tool and then refinance once stabilized to get better and longer terms. 

The cure to both - the 4 ions: education, action, progress(ion), not perfection".Learn to use BP to its whole potential:Subscribe to BP blog and podcasts and start reading posts and listening to their podcasts collection.Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: Real-estate-investing (http://www.biggerpockets.com/real-estate-investing) + Actionable-steps-to- reach-investing-goals (https://www.biggerpockets.com/renewsblog/2015/12/17/actionable-steps-reach-investing-goals)You can find a glossary of some acronyms here: https://www.biggerpockets.com/...You might also want to read: The Ultimate Beginner’s Guide - https://assets2.biggerpockets.......actually the entire section on Guides - https://www.biggerpockets.com/...BP has a whole section dedicated to education and starting up - https://www.biggerpockets.com/...Get busy with the entire Education section on BP:property-types (https://www.biggerpockets.com/hubs/property-types)finance (https://www.biggerpockets.com/hubs/finance)strategy (https://www.biggerpockets.com/hubs/strategy)analyze-deals (https://www.biggerpockets.com/hubs/finding-deals/analyze-deals)property-management (https://www.biggerpockets.com/hubs/property-management) (including TENANTS MAINTENANCE)business-operations (https://www.biggerpockets.com/hubs/business-operations) (and the sub section on REAL ESTATE MARKETING TOOLS & TECHNOLOGY TAXES & ACCOUNTING LEGAL TEAM)One way or another you will pay your "real estate tuition" - either in time, effort or money.

@Cory Stidha When I was first trying to get my foot in the door of the real estate industry, I found using LinkedIn as one of the best tools out there to network with real estate professionals that opened many doors for me.

The more tools you have in your belt and the more you learn how to combine them, the more success you will see.

Go to the top of the screen and click on TOOLS > LANDLORD FORMS to purchase:Chicago Residental Lease AgreementIllinois Residential Lease AgreementLease ExtensionPet AddendumLease AmendmentApplicationMove-in/Move-outLease GuarantySecurity Deposit ReceiptShared Housing AcknowledgmentThat's a good deal for $100.

Let's Connect and discuss further,  to ensure you have the tools needed to make your best decision.

They had all of the tools necessary to do deals but they just lacked that ability to say: "Hey, I don't know if this is going to work.

I would continue to go to meetups, continue to educate yourself, and continue to use the tools on this website and the network you continue to build to your disposal.

Are there tools going to get stolen?  

I would strongly urge you to graduate straight to an accounting software package, rather than try to craft your own using spreadsheets.We use QuickBooks Online, but there are plenty of tools out there that are inexpensive and easy to use.Time spent getting organized now will save you thousands of dollars in rework by an accountant or bookkeeper later.