But like @Jay Hinrichs points out, watch the fine print on these. 

I’m in the middle of a few rehabs and my contractor asked me today if we should continue and risk getting fined.

YOU Will BE JUST FINE AS LONG AS YOU KEEP LEARNING!!  

i had a similar rental and my experience was fine.... but I did sign a lease with the tenants and a side agreement with the placement company re rent payments etc Do read the agreement and ask questions : who pays the rent?

You'll need a career, so being an agent is a fine path, but read to of books on RE investing, and participate in BP forums.

It doesn't attract the college student crowd which I'm 100% fine with.

However, there is a clause in there that says if we close the heloc out within 18 months we have to pay them back for these costs...read the fine print.Side note, most helocs have a 10 year draw where you pay interest only then the balance is rolled into something similar to a mortgage where you pay principal and interest.

Build a relationship with a title company and fine a resource there that will help educate you. 

You could have 20 financed properties, and you want a new owner occupied home, and will be making your existing primary into a rental, this is more than fine with the guidelines. 

I can afford the monthly payments just fine with no real strain put onto my life or ability to support my needs.