Even if you purchase with a single family home, it’s a start.I’m active duty Air Force with four properties.

We purchased the home on 06/18/2018 for $120,000, invested $1,111.97 in renovations, and sold it for $210,000 on 11/19/2018.

As an owner occupied home, you can sell and take the profit tax free. 

Quote from @Kendall Jackson: I’m trying to get started in real estate to provide additional income for flight school and eventually buy a home in San Diego.  

The home is in Arizona.

What tips and precautions can you provide In order to succeed in this project? 

I've considered different options, such as refinancing this home to make the land a separate transaction or even selling my house to build a duplex, (since I am not sure if I will be able to get financing for the construction project if the land and this current home are on the same loan).

Hi BP,Im trying to figure out if I should look into using a HELOC on my parents home to buy a rental property in cash.

I can comfortably afford both the starter home and the more expensive home with my income, given my DTI is basically zero.

At that time it was an area with homes that move relatively quickly and a low enough price point with the rates to make it appealing to buyers.