I deposit my paychecks there and for all the time the money would usually sit idle until the bills are paid, the heloc interest calculates daily, so it would be lowered by my deposited income.

Start with small steps, pick deals wisely, plan your spending, and always have a plan B.

@James Wise  Jim read the post above.. 

If you want 10% returns you might have to look in another market, but if you want to park some money in a solid property, as long as it generates enough to break even after all expenses, taxes, etc. to allow you to hold on to it for 5-10 years I'd bet it will do better in the long run than a 10% cash flow property in a lower end market. 

I’m gonna be frank, you will not quit your job buying rental properties, Brrr’s are incredibly hard to make work, for instance I bought a property at about 50% of arv which is crazy hard to find, I could probably pull all my money out but I’d stil be cash flow negative.

You could have $1,000,000 between you and your dad but money is only one piece of REI.

It is incredibly hard to make money bidding online.

Great investment getting ahead of the college housing expenses and putting the equivalent rent money to work..If the property is generating income it can be classified as a 'second home.'

However, if it needs that much work you are probably better off going with a hard money loan and then doing a rate & term refi once rehabbed.

It is easier to budget things if the money is separated.