I planed to fund the loan out of my pocket and put a mortgage on the property to secure the debt.

what if you buy the 8, and sell one for $$, use that, and have 7 with no increased debt or partners?

I am most interested in the BRRRR strategy as I am looking for cash flow, but would enjoy rehabbing properties as well.My main question: What types of jobs within the Real Estate Investing field would be best for someone like me to get the most useful experience possible? 

Just be sure that the property will cash flow enough to cover all your normal expenses (debt service on the 30 yr loan, CapEx, repairs, vacancy, taxes & ins, etc) PLUS enough extra to pay off the LOC in a reasonable anoint of time.

I have been in the banking industry, mainly commercial lending, for the last 15 years.  

If you want to scale up without having a high leverage of debt, in my opinion, BRRRR is the best way to do it. - You get your cash back - you will have around 20% equity on each deal when you refiGiven that buying a distressed property and refinancing take you 6 months because of the seasoning period, It is still better than saving money each month to buy another property. 

The total debt service would be basically a wash with current NOI, and cash flow would be low even with the higher NOI, but it'd be 100% OPM.

Main items of work are ripping out all old carpet, intalling wood laminate in place, installing a shower, and interior painting; possibly a kitchen counter or two.

Since my main question was answered that I should have rent money go into the beneficiary IRA, since rent money is not considered a contribution.

The Questions:  After the year is up, will we be able to go 5% down again on building our new house, while we are still holding the debt of the first duplex?