(I understand that can vary depending on countless variables) What is a fair interest rate to borrow from family?

Could vary a bit for a HELOC.

What is used as collateral can vary widely.

College degrees are essential for certain careers. 

Unless you already had a decent job for 2 years (Minimum) while in college, lenders will typically give you financing based on you graduating with your bachelor's degree and securing a contract with a job in your degree's related field.

forget investing for the moment your whofully undercapitalized.. and you could end up losing whatever you have.if you want in real estate and your working part time now.. get a RE license cost maybe a grand.. so spend that on education.. get in with a top flight broker on their team.. earn while you learn.. then start saving money.. hang with the club that does deals  IE real estate agents.. you will find off market deals before anyone else and you don't have to send or spend money on marketing to get them its all in the club.short of that take your degrees and energy and move to a better work environment.

Also ironic that while although my instructor was well-educated and informative, she quickly mentioned how she has a degree in marketing.....interesting.  

I am fifty-eight years of age, have a bachelors  ( 4- year ) degree in Business Administration ( General Management ) from Western Kentucky University ,  Bowling Green , Kentucky .

We're in a fairly high-end area, though not to the degree of Orange County, and it's my experience that the custom builders can make as much or more by working with a client, with no risk, as opposed to splitting profit with an investor.

He's buying notes for pennies on the dollar, however, and his options will vary by the margin he buys them at.A 'class type map' of Milwaukee doesn't exactly exist, and I think they were outlawed altogether when fair housing laws were passed ;) You could, however, look up an old HUD or FHA redlining map and the damage that those housing practices accomplished is still reflected today in many areas of the city.