If you are talking about capex like a new roof, new flooring, or other major improvements then I would use the HELOC.You want to use the cash for more investments that will bring a return.

Account Closed I'm new to this game and have basically zero experience, but I did stay at a Holiday Inn Express last night so....I've been doing a bunch of research on the long term population and economic trends of all the major metro areas and I have to say that Raleigh's profile is stellar.

When I dig deeper, I noticed that almost majority of these properties had one thing in common.

There is good competition from well located retail space but I’m seeing a majority of providers prefer class A office buildings. 

Knowing your timeframe for acquiring the property will help you stay on track with the rest of the process.While this is not an exhaustive checklist, if you have these six areas planned out in advance, you will be in a great position to get through your first investment property purchase without any major surprises.

Knowing your timeframe for acquiring the property will help you stay on track with the rest of the process.While this is not an exhaustive checklist, if you have these six areas planned out in advance, you will be in a great position to get through your first investment property purchase without any major surprises.

On the outskirts, you can get a 10-15 years old home in a good condition with a decent floor plan that may not need any major cash infusions for a while, and your taxes will be lower.Within your target price range, you  should be able to find plenty of homes in both categories.

An addendum was made for the inspection, just in case something major was wrong like foundation or busted pipes.

To take that a degree further, a 100% transient RV park in the middle of nowhere alongside a major freeway will likely always be a 100% transient RV park, where that same park in a good location in a strong MSA could be transitioned over time to a PM park where tenants call that a home. 

@Daniel Robertson I am a contractor from Rock Hill and do Major renovations in that area.