That is now my plan as I am liquidating the "losers" in my portfolio and working on building up my reserves to properly invest in the next investment.

At the minimum, the home needs to be freshly painted, newer flooring, and all the appliances in good working condition. 

I plan on using a property management company in order to keep the property in order until I move (eventually I want to bring property managers under my own business entity to focus only on my properties). 

If I booked a place and I agreed to the cancelation policy, my plans changed and I do not get a refund then why even bother the owner.

Here are some considerations for each option:Option 1: Using the HELOC for a down payment and renovation on a second property to rent:Pros:You can leverage your existing property to acquire another investment property without selling your current home.Rental properties can provide a steady income stream and potential long-term appreciation.You can use the HELOC funds for renovation, which can increase the property value and rental income.Cons:You'll have to manage the property yourself or hire a property manager, which can be time-consuming and add to your expenses.There is a risk of vacancies or unexpected maintenance costs, which could impact your cash flow.You'll have to pay back the HELOC, which will increase your monthly expenses.Option 2: Building a new house in a new community and selling it for a profit:Pros:You can potentially make a significant profit if the market is favorable and the property value increases during the construction period.Building a new house allows you to customize the property and potentially attract more buyers or higher rents.Cons:This strategy involves a higher level of risk, as you're betting on the market to appreciate in a relatively short period.There are many unknowns and potential delays in the construction process, which could impact your timeline and profitability.You'll need to have a good understanding of the local real estate market and construction costs to ensure that your project is profitable.Before choosing either of these strategies, consider the following:Research the local market conditions in Chandler, Arizona, to understand the current demand for rental properties and new construction homes.Consult with a real estate agent or investment advisor who has experience in the local market to get their insights on the best strategy for your situation.Evaluate your financial situation, including your income, expenses, and risk tolerance, to determine if either strategy aligns with your goals and financial capacity.Consider the tax implications of each option, as this can impact your overall profitability.Create a detailed financial plan for each option, including projected income, expenses, and potential risks, to help you make an informed decision.Ultimately, the best strategy for you will depend on your unique situation and goals.

One way to avoid this is to have a plan for when you do have to move. 

I have never been to Texas but am planning on making a trip to check the area out.

I have a pretty good idea on my plan of action getting into real estate but ignorance is bliss and I wanted to ask to see if I'm missing anything.

Sounds like you got the plan @Jeff Ebert.

The American Dream is the American Dream because it takes some time, effort, sacrifice, and planning to get there.