Quote from @Mike Dymski: The syndication investing that is discussed on the BP forums and podcasts is a fraction of the larger syndication business. 

A heloc can "never" be used as an "Asset" or Liquid reserve both required when you purchase additional rental properties. 

This way, you can learn the ropes before tackling a larger property.Also, when investing out-of-state, make sure you establish your Core 4 Real Estate team.

I am proposed GP with development / management experience, however my liquidity is tied up in a separate development initiative. 

With larger projects come bigger budgets, and tracking your cash flow becomes essential for profitability.

Based on the numbers, I could build them for prices to where I could then pull all the money out of the build and be all in at nothing down and still cash flow and gain larger chunks of equity so I can keep going.I'd live off the sales of the builds and build wealth off the holds I'd build. 

Here are the common exceptions:Relocation for Work: If your job requires you to move a significant distance from your current property (usually over 50 miles), you may qualify for a second FHA loan near your new workplace.Increase in Family Size: If your household has grown, and your current property no longer meets your family’s needs, you may qualify for a second FHA loan to purchase a larger home.Co-Borrower Separation: If you co-signed on an FHA loan and are no longer living in the property (e.g., after a divorce or separation), you may qualify for a second FHA loan for your primary residence.Non-Occupying Co-Borrower: If you were a co-signer but did not occupy the original property, you may qualify for another FHA loan as the primary borrower.Important Note: FHA guidelines typically require you to demonstrate that the current property will not meet your needs or is no longer feasible as your primary residence.2.

Personally I only use my HELOC on short term projects like flips, new builds and BRRRRs where I know I will be replacing the capital within months.You may be better off waiting a year and save up more cash or liquidate your index funds if the returns on a property will be better.

Every single cabin I build is a deal I'm going to add 150k or more in equity (I've done a couple of larger ones that have 200k to 300k in equity) and anywhere from 5k to 10k a year in net profit by year 2. 

There are a lot of different ways to deploy that $300K (or keep a larger chunk in cash for safety).