I’m thinking of a HELOC for short term deals/flips and was wondering the following...1) Should I take out a HELOC on my townhouse or my one and only investment property?

I have a new PM company that deposits rent the following month.

Follow-up is very important.

Yes @Jerryll Noorden, I will definitely follow your seasoned advice moving forward. 

First batch with postcards using first-class, then follow-up with yellow-letters using standard mail.

Devon,Strictly speaking you don't need a college degree to do real estate.If the only reason you don't want to go to college is because you think it's "worthless", you've got the wrong reason. 

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I have a few people I could possibly reach out to for this.At the end of the day, once the property is sold for $140,000, the following will need to be paid off:SATISFY THE MORTGAGE LOAN:  -$60kME:  -$10k - down payment -$2.5k - holding cost -$5-7k - hard money loan interestPARTNER: -$5k - down paymentPRIVATE LENDER: -$25k - loanTOTAL EXPENSES: $109,500This would leave us with a profit of over $30k to split between the 2 of us.. and this is estimating expenses and holding cost etc... on a very conservative level.Really just putting this out there to see if there are any obvious things that i have over looked and also to gain opinions on the deal from those of you with some experience!

Cash flow followed by value add.SFHs value is driven by home buyers so I avoid them entirely.

But my opinion is based upon my own experience.In my mid forties, I decided to get into REI and I followed the DIY path.