I am more interested in earning good returns more than receiving the property.

Everyone is different, so it's best to get to know the person first, the more you know them the better.You might want to look into forming an LLC with an attorney, a multimember llc, which shall have its own tax return. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

You can definitely get HELOCs on investment properties, but the interest rate is high. 

I live in NJ, and it has a very high cost of living and with the current rate of interest, makes it a very pricey market so to say, and not that investment real estate friendly.

I love the world of finance and investing, have always had good returns percentage wise, but nothing life changing as I have never had the free capitol to go deep into any investment.

My personal opinion of values is that if you're looking to get a predictable return on investment that you would be better off buying a legal duplex.

Anyone with directions will be highly appreciated.I am thinking of buying a 4-bedroom property that has some potential for student amenities.

Zillow does have a Price my Rental Tool that allows you to manually review rental comps in the area, and I highly recommend it when setting prices.

But if it's priced a little high or the listing is a little funky there might be a way to get them to look at your offer.You might offer your price as cash plus a small second mortgage to them as owner financing.