We would like to get a HELOC(or similar), to pay back our original source of funds and also have extra cash to pursue the next deal.

The bright side of the property was there was two potential rental income sources.

Sourcing deals is a great way to get started as well.

Their time might be better spent sourcing more deals or doing his/her job or spending the little time he/she has with his/her family.

Final thought: If you are still planning to leave the military in 20 months and don't yet have a solid plan to transition to your next source of income I would recommend avoiding all unnecessary purchases.

Another thing you might do before starting with investing is to get your financing fully appropriate from a bank or other source and give you a loan letter and a copy of it can be in your offers to make the owner more comfotible with you being able to close.Do not try to do everything yourself.  

Developing a relationship with a funding source is very important in being successful in the fix and flip strategy long term.

(Granted I am not sure where his data is being sourced from).

Property taxes are higher here (as a % of value) than in some states since we don't have a state income tax, so property taxes are a major source of revenue. 

Developing a relationship with a funding source is very important in being successful in the fix and flip strategy long term.