Risks: rates go down and you have to pay a prepay of 2 or 3 %; you have to sell and pay the prepay; rents decline & you can't make the payment like any other type of loan; cost upfront a little more than conventional; need to find experienced broker licensed in the state where subject property sits; servicers are bulldogs. 

Readers should seek professional advice.

Note purchasing is a very sophisticated strategy best suited for well funded and highly experienced investors.

Indianapolis is still experiencing population growth. 

I was not experienced enough to think I was being hacked, they thought it was a glitch, until it wasn't. 

With your maintenance and construction background, you'll definitely have a leg up in creating value, whether you go with a smaller home or a multi-unit property.If you're exploring seller financing and deal structuring, connecting with experienced investors here in Chicago will be a game changer.

But I would be reticent to use them without having it looked at (after you complete it) by an attorney, preferably an experienced real estate attorney.

AB 2622 allows unlicensed professionals to handle jobs under $1,000, such as repairing gates, patching drywall, or fixing leaky faucets—saving you money without sacrificing quality.2.

That being said, I’m open to suggestions and input from more experienced investors. 

If I used the HELOC, the investment needs to generate >9%.I recognize there are many variables not listed here but would love to hear from more experienced investors on more generally how you think about using cash vs. home equity to grow your portfolio in the current environment.