Think $1,200+ monthly rents in a 250 sf space:)How's this project going and are you raising funding via individual investors? 

If you can purchase locally and still hit your investment goals, I would do that.

To obtain practical experience, start small with reasonable investments like house hacking, rentals, or fix-and-flip projects.

Values to me is when they went through your files, point out mistakes, understand your goal, plan a strategy and follow through.   

I would base my decision to buy more on my investing goals, am I buying for cash flow, appreciation, or tax savings.

My goal is to get started with my own duplex or triplex and build from there.  

Lastly, what cash flow and cash-on-cash return are you projecting to earn, assuming you find your hard money loan?

you are not alone nor dumb, i read an American study that 40% of home flippers lose or only break even on their projects. please talk to an attorney with bankruptcy and real estate experience before filing as could have long term complications.

I never lock any HELOC money into any project that I do not plan on getting my money back within 6 months.My HELOC is right around 9% as well and interest only.

I am connected to micro housing projects here in Denver.