30 year loans are fannie-backed products. 

There are many programs to get owner-occupants properties at a lower price (FHA, VA, etc), but not many financial products to help landlords get started.

We do that exact same thing, and use TurboTax, too, I think it's a great product for rental properties and really simplifies things.

If we spread ourselves to thin, our quality of production suffers.

You can defer taxes only IF you properly set up a 1031 exchange which will require hiring a Qualified Intermediary, about $1000.You have 45 days from the sale to identify the replacement property, 180 days to close on it.

It's easy to mess that up by not digging deep enough, putting in proper rock and possibly tying to a drain tile (easier said than done), oh and sealing the new hole in foundation properly. 

@Shiloh Lundahl I find it productive to be friendly with Tenants but not friends.

If you are wanting to BRRR, then you can use your heloc to purchase and rehab a property or a combination of that and hard money to find a duplex.I work with a bank that will Cash out refinance once a tenant is placed and will lend based off of the asset and income production, not based of my debt to income ratio.

Also if they have truly never lived outside of a parents home you are taking a risk that they will take proper care of your home without having mommy there and that their relationship is strong and that they will both want to continue living there and paying rent for the duration of your lease.

And depending on zoning, you could convert it to a proper BnB.