You can find duplexes in those areas that need some work for around $150-200k that will already be cashflowing and with some renovations can increase cashflow.I've done this and on my first duplex, I was able to get a $25k line of credit which I used to purchase another duplex. 

Everything else, any motivators and techniques you pick up and employ to increase or 10X your life and productivity are a bonus. 

The back-up plan is to simply flip the property and take the cash out now for the next project.The Project (2 unit Multi-Family):Acquisition/rehabLand Acquisition:     275k (I'd use my cash to buy)Hard Money Loan:  100k (I might use my home equity line at 4% APR over 20)ARV:                           465k (This is my best assumption based on other comps)Refinance:                348,650Cash out:                  26,250Income:Rent:                         1800x2 (This is conservative)Capex/Maint.          300x2Expenses:                400 (water/trash/electric/sewage/insurance)Using these numbers the property looks like it generates a COC return of about 30% per anum (on the 26k outstanding).

In any case, the battle lines aren't the stereotypical right/left rep/dem binary, and it's far from a done thing.

I decided to finally buckle down to do this part time from extra income and to build up before I decide to do it full-time.Any suggestions on which state, on-line courses and/or brokers for this new journey?

In fact, I think it helps in terms building relationships with banks when you open accounts with them, especially when you are ready to apply for lines of credit or commercial lending.

I'm looking to get a line of credit on these properties.

Where do we draw the line or where should the line be drawn for us?

We took out a home equity line of credit on our house and used that to purchase two rental houses.

DEFINITELY not like the TV shows (which are not reality) but if you advertise the auction, you could recoop losses by bringing buyers that know how to resell the products inside (if/when applicable to what's stored).