If your parents are willing to co-sign while you’re still at home and have minimal expenses even better.

The best way to explaining this is for you to download an IRR calculator spreadsheet or build your own simple one and play around with one.For what its worth most deals I deem meeting minimal IRR standards is 13-15% but you have to dig a little deeper to uncover the real placements of cashflows and capitalization events... and then dig even deeper to verify the assumptions such as occupancy, rent increases per year, and what reversion cap rate was used.Again I don't look for IRR cause its manipulated a lot instead I look at total return on a 5 year basis.

My HELOC would have a 0 balance and I would be ready to find the next BRRRR deal to start over.Additionally, from my understanding when using a HELOC there are strategies to minimize the interest you pay because it's based on simple interest.

The goal is maximal after-tax gain in wealth net of risk; not minimal taxes. 

But, I would ensure that you have some equity in each of the properties to minimize some risk.

This minimizes how often I'm showing the property and makes sure the folks looking are basically approved already.Hope that helps!

@Deborah EdwardsWhen CoC approximate Cap Rate, the interest rate on the loan is relatively high compared to cap rate (the spread is minimal).

This was our first personally managed property, and replacing problem tenants with great ones ensured that we receive rent every month and minimize expenses.Lesson 2: Always make contractors sign their bids for work as a contract.

This was our first personally managed property, and replacing problem tenants with great ones ensured that we receive rent every month and minimize expenses.Lesson 2: Always make contractors sign their bids for work as a contract.

Even though you have time, I would question with minimal marketing budget what sort time would be needed.