(Background in basic construction)I’d like to have this job to pay bills until I’ve acquired enough properties to move on from it.

If you buy the property and there are environmental contaminants they would become your problem and it is not cheap to have them re mediated. 

I think you could really profit from circling back and doing a business plan of how you plan on acquiring, rehabbing and liquidating your target properties so you can figure out what your competitive advantage is.I'm sure this is just the first step to you making a mint of money, and I hope to see your deal diary in an upcoming post a few months from now. 

You are rushing to acquire doors by using your entire HELOC.

Rent to own has gotten a bad reputation in some circles since the renter/buyers rarely wind up acquiring the property.

The sale price of a property is affected by a number of levers including supply and demand, replacement cost, interest rates, the riskiness of an investment, and, most importantly, the amount a buyer is willing to pay to acquire it.

I currently have one property that I own and live in with my wife that I used an FHA loan to acquire.

Purchase price: $621,000 Cash invested: $100,000 We have acquired 17 homes over the past year paying for them in cash.

@Alonso Fernandez MaldonadoYou would be acquiring a new loan based on the new value of the property.

I just acquired a third one which we purchased for cash approx 4 months ago  due to some fortunate inheritance.