Where I am worried about is having a high minimum monthly payment after I, lets say, purchase a $100,000 SFH all cash.Let me give some more data:Draw period = 5 years; where at the end I can either re-apply to extend the credit, or enter repayment period of 15 yearsInterest (as of today) = 5.75%Min monthly charge factor = 1.0748% of unpaid balanceSo with the example of $100,000 SFH purchase, at month #1 my payment would be $1,074.80.

There is no further discussion about the nature of repairs. 

get a paying job in the industry and save.. real estate is not an industry or job that you can do without resources of a financial nature .but you can get hired on to do many jobs in and around real estate and earn while you learn.

That's the nature of the business and that's also how the real world works. 

Does anyone know if it makes a differance to apply for one or the other when buying my first property?

Some lenders will not allow you to apply for a personal HELOC if you don’t occupy it but they may alllw a business HELOC.

My wife and I have been planning on moving back to KC to start working on the dream as it seems like a natural fit.

I’ll get better but in this case the maxim “know thyself” applies.

And does the same apply to a 12 yr?

., LOC are better than refi's if it applies to you come time..BBVA bank has an un unusual good loan going on for first time.. there might be rehab loan built into it.. so as for getting rehab money, there isa rehab loan out there...or can use extra rent for fixing things upgrades..